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310.376.9865
A recent post by a Northern California Bankruptcy Attorney, Cathy Moran raises an interest point.
Some taxes may be discharged and the debtor will not have to repay them if certain requirements are met.
One of those requirements is that the tax must have been assessed (the date the IRS enters into their system that you owe taxes) more than 240 days prior to the filing of a bankruptcy.
So, if the other requirements are met, and 240 days have passed, and you file bankruptcy on the 241 st day, your tax liability will be discharged.
However, this is only applicable to your Federal Taxes. Your state taxes may have a different rule. In California, and this is sneaky, any unreported taxes are NOT dischargeable until the state of California learns about the taxes.
So, if 241 days have gone by, the Federal Taxes are dischargeable, however if you did not, nor anyone else did not inform the State of California, then the State of California had no knowledge of the taxes, and the state of California taxes are not dischargeable.
So, if you owe back taxes, and are contemplating bankruptcy, you will have to make sure the State of California is aware that you owe back taxes.
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- Los Angeles/Orange County Bankruptcy Attorney
- Law Offices MJ Mann Bankruptcy Attorney
- 2706 Artesia Blvd, Suite BK
- Redondo Beach, CA 90278
- 310.376.9865
