Personal Bankruptcy Lawyer Portsmouth VA
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PERSONAL INCOME TAX DEBTS ARE TREATED DIFFERENT AFTER OCTOBER 2022
Although the general deadline for filing tax returns is April 15 of each year, many taxpayers choose to extend until October 15, 2022. October 15 has recently passed and for that reason, a debtor who did extend to file 2018 income taxes can now file bankruptcy and may be able to discharge income taxes for 2018 or such obligations may be treated as a general unsecured claim as opposed to a priority claim. Some of the variables impacting that result will be the date that tax return was filed, whether the return was filed timely, the date of assessment of the obligation and tolling events including but not limited to prior bankruptcy cases. Although an underlying tax may be discharged, tax liens are not avoidable in chapter 7 bankruptcy.
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Personal Bankruptcy Lawyer Portsmouth VA
