Asked in Tax Law for Colorado

Q: We made a few mistakes on our taxes a few years in a row we didn't have all of our w2s so we guessed as as we could.

We were handed 4 year of very steep penalties tried to be very honest with the state of Colorado but they said we still have to pay 44000 in penalties. Is there something that a lawyer could do to help us??

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1 Lawyer Answer
Timothy Canty
Timothy Canty
  • Tax Law Lawyer
  • Evergreen, CO
  • Licensed in Colorado

A: Your penalties may be dischargeable in a Chapter 13 bankruptcy depending on how old they are, whether you filed the returns on time and whether a tax lien was recorded. Other factors need to be considered (e.g. your income, assets, other debt, etc.) Check with an experienced bankruptcy lawyer as more facts are needed.

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