Often Asked Questions Regarding Bankruptcy

Often Asked Questions Regarding Bankruptcy

Communicate with Our Oakdale Bankruptcy Attorneys to find out more

Lamey lawyer, P.A. was serving the residents of Oakdale for longer than three decades. Below, you’ll find brief responses to a few of the questions we get many. All of us acts throughout Pine Springs, Lake Elmo, Maplewood, Woodbury, Oak Park Heights, and much more.

To find out more, dial (651) 309-8180 to schedule a bankruptcy consultation that is free.

May I dispose of IRS taxes if we file bankruptcy?

Quick response: Yes, when your fees along with your situation meet with the needs. a seasoned bankruptcy attorney can figure out if you meet with the qualifications to discharge or cancel your revenue taxes in bankruptcy.

Broadly speaking, taxes are released in bankruptcy: (1) if they’re over three years old calculated through the deadline associated with the income tax return; (2) in the event that tax statements had been filed significantly more than a couple of years ahead of the bankruptcy; (3) in the event that fees are not evaluated within 240 times before the filing associated with bankruptcy; and (4) as long as the taxes aren’t owed by explanation of a “SFR” or replacement for return served by the IRS there are some other demands, such as for instance that the fees may not be the consequence of a taxpayer filing a false or tax that is fraudulent, as well as the taxpayer cannot have designed to evade or defeat the fees. Continue reading “Often Asked Questions Regarding Bankruptcy”