Posted on: 05th Jan, 2012 12:52 am
I'm looking forward to file Chapter 7 and I have 7,400.00 in IRS Income Tax Debt from 2007. My wife and I use to file the tax returns jointly. Apart from this, there are other debts which we need to discharge. Well, I need to clarify whether or not these debts are dis-chargeable due to the age of the taxes? Since we filed jointly on the returns, does my wife need to file bankruptcy also?
Hi Korel,
You should note that tax debts don't get discharged in your bankruptcy filing. Though you file bankruptcy, you will be liable for paying off the tax debts in full. In such a situation, you can file bankruptcy on your own. It not mandatory for your wife to file bankruptcy jointly with you.
Take care
You should note that tax debts don't get discharged in your bankruptcy filing. Though you file bankruptcy, you will be liable for paying off the tax debts in full. In such a situation, you can file bankruptcy on your own. It not mandatory for your wife to file bankruptcy jointly with you.
Take care
Generally speaking, income tax debt can be discharged if the tax was assessed more than three years prior to the filing of the bankruptcy petition.
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