tax preparation charleston

Getting into debt with taxes is not a nice thing, and can become a very difficult situation to be in.You may ask the invertible question can you file taxes owed with bankruptcy. And yes you can do so depending on what type of taxes it is you owe.

To see a good lawyer that knows how bankruptcy works should be first on your agenda. Filing for bankruptcy and getting your taxes filed are an uphill task and even some lawyers may have a battle doing this. Trying to do this alone will not work. Al the things you need to know like which chapter you may file for when you decide to file for bankruptcy, and if the taxes you are in debt for can be discharged will be known by a lawyer specializing in this area.

To know whether the tax debt you have is general unsecured or priority taxes is very important since even when you file for bankruptcy, taxes that is priority taxes will not be discharged and the debt will be yours to repay and it will be the full amount owed.

The Chapter you file for in bankruptcy also determines how much of your taxes can be discharged. Filing for a chapter thirteen case means that you will still be held accountable for a percentage of the amount that has to be paid to creditors.

Another requirement for your taxes to be discharged is that your tax returns must be filed a minimum of two years before your bankruptcy case was filed. The taxes filed must have been done so willingly and there must not be any record of trying to evade or defeat of these taxes by fraudulent returns filed.

There are many different taxes like sales taxes for one, you can get rid of some of this tax debt in filing for bankruptcy, but said again get the advice of a tax lawyer that has knowledge about these cases.

Personal taxes are usually discharged in general if these are 3 years old and that you had them assessed 240 days before filing your case of bankruptcy. These types of things should also have been done by you voluntarily at the right times.

The two main chapters to file for is 7 and 13, if you should go with chapter 7, you might be in a position to get one specific years tax discharged. If filing for chapter 13 you may be held accountable for paying a percentage between 0 and 100 back to the instances that the money is owed to.

Along with a few other taxes Payroll taxes will not be discharged so filing in this direction will have no effect. Try to get surety that when your taxes has been discharged your bill will be clean since it can happen easily that you may owe something on other taxes and your bill won't be clear even in a case of Bankruptcy.The best option is to ask the lawyer on your case to get this confirmed beforehand.

Asking others around you about this will not help you. Can you file taxes owed with bankruptcy, take it to a lawyer who will help you with all the things you may not have an understanding of.

tax preparation charleston

Bankruptcy is an extremely complex process,if you need help through the process, hire a Toronto bankruptcy trustee

tax preparation charleston: tax preparation in charleston sc

This article, the best article ever, kindly provided by UberArticles.com