Bankruptcy Reader

Did you know that the filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy might eliminate some types of personal income tax liability? Well, so it seems, but there are certain conditions. You must meet these requirements if you want to completely eliminate your personal income tax liability through bankruptcy. In case of a Chapter 7 bankruptcy, to get your tax liability eliminated, you should:

• File your tax return on time
• Not make a fraudulent filing
• Have filed your tax returns over three years ago as of the bankruptcy filing date.

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This entry was posted on Friday, October 6th, 2006 at 1:49 am and is filed under Chapter 7. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.