Q: CAN I WRITE OFF FEDERAL TAXES WITH BANKRUPCY?
A: I some cases, yes. The returns have to have filed more than 3 years ago to even begin being possible. If that is met, you have to some other requirements, too.
Some Federal income (not payroll taxes) taxes may be discharged in a Chapter 7 bankruptcy filing provided the following terms are present;
1- The IRS assessed at least 240 days prior to filing,
2- The returns were filed at least two years before the filing,
3- The tax returns were due three years before the filing,
4- Not resulted from commission of fraud or corresponding penalties.
Good luck. Zaher Fallahi, Tax Attorney, CPA.
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