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including taxes in a Chp 7 (1 viewing) (1) Guest
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TOPIC: including taxes in a Chp 7
#7109
Sumo (User)
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including taxes in a Chp 7 7 Years, 5 Months ago Karma: 5  
whats the rule for including income taxes on a chp7? Is it 2 or 3 yrs from the date of filing. Also, if someone filed on extension, then is it from the date of the extension for from April 15th?
 
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#7114
Henkel (User)
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Re:including taxes in a Chp 7 7 Years, 5 Months ago Karma: 0  
Here are the rules:


1. The 3-Year Rule: The tax return on which the tax debt arises must have been due at least three years before you file for bankruptcy. This usually means April 15 of the year the return was due. If an extension was filed, then it means August 15 or October 15 of that year, or beyond to the actual filing date. If the 15th falls on a Saturday or Sunday, the return wasn't due until the following Monday.

and

2. The 2-Year Rule: The tax return was filed at least two years before the bankruptcy (having the IRS file a substitute for return doesn't count).

and

3. The 240-Day Rule: The taxes were assessed by the IRS at least 240 days before filing.

and

4. Lack of Fraud/Willful Evasion: There was not a fraudulent tax return or a willful attempt to evade paying taxes.

and

5. Income Taxes Only: Taxes other than income, such as payroll taxes, a 100% penalty, Trust Fund Recovery penalty, fraud penalties, or several other unusual types of taxes are by law excepted from bankruptcy discharge.
 
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#7124
GelRon (User)
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Re:including taxes in a Chp 7 7 Years, 5 Months ago Karma: 0  
What if you amended a tax return? Is it 2 years from the date of the initial return or from the date of the amended return?
 
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#7178
Dingo (User)
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Re:including taxes in a Chp 7 7 Years, 4 Months ago Karma: 0  
When you amend a return, it relates back to the date of filing, so it doesnt hold open the original filing date. What you are asking is whether the filing date is "tolled" due to filing an amendment and the answer is no.
 
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