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IRS Tax Relief

What this means to you is that under the current code certain IRS taxes may be dischargeable in bankruptcy. 1040 (income) taxes ARE DISCHARGEABLE if they meet a 3 prong test:

  1. The taxes were due including any extensions at least three years ago. For instance, 2003 taxes were due on April 15, 2004 and no extensions were filed, the taxes were due more than three years ago

  2. The tax return must have been on file for at least two years.

  3. The taxes were assessed at least 240 days ago

 

 

Employer taxes(941 and 940 taxes) are not dischargeable in bankruptcy under any circumstances.

 

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BOARD CERTIFIED CONSUMER BANKRUPTCY SPECIALIST
by Texas Board of Legal Specialization

I am a federally designated debt relief agency and I have been proudly helping people file bankruptcy since 1987.