0
ALL your property (all your assets) AND all your liabilities are included...always..you do not pick and chose. You cannot go BK on a speci Save fc debt.
They are given different priorities, some debts may not be discharged (like child support), and some assets (like household goods, work tools), may not be used. Secured debts. (and property taxes are secured to the property being taxed), get first claim to the proceeds from that asset.
Answer
real estate taxes cannot always be discharged in bankruptcy. Determining whether they can be discharged requires some investigation by an attorney who specializes in bankruptcy law. A secured debt for property taxes would be perfected by the recording of a tax lien in the land records.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Can you file bankruptcy when you debt is federal and state income taxes?
You can file bankruptcy at any time you like, but I will tell you that bankruptcy court does not have the authority to drop the taxes. The IRS or State may allow a payment plan instead of allowing them to begin confiscating property. You will still have to pay the taxes due and it may be to your benefit to work out a payment plan directly with tax department and not have to pay the legal and court fees involved with the bankruptcy.
Can you file banruptcy on federal taxes?
You can't. Bankruptcy does not forgive you for federal taxes.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
Can you go bankrupt in IRS?
The IRS does not like its agents to file for bankruptcy, so I understand. If you're asking if you can discharge taxes owed to the IRS, the answer is, maybe. If the tax is income or certain property taxes, and if the income tax owed was determined more than 3 years prior to filing - and if you were not concealing income - those taxes can be discharged. You should really consult a bankruptcy lawyer who knows about taxes.
Can you file bankruptcy on back taxes?
NO
Does bankruptcy change how you file taxes?
No
Can you file for bankruptcy even if you owe back taxes?
Yes, you can, and you may be able to discharge the taxes owed, if they are income taxes for returns filed more than three years prior to filing, unless there are more recent adjustments to the taxes owed.You can also file a Chapter 13 to arrange a payment plan for the taxes, though the IRS has become more amenable to reasonable payment plans without a bankruptcy filing.Consult an experienced bankruptcy lawyer in your area.
Should i file taxes after discharge?
Yes. Bankruptcy does not change you absolute legal obligation to file taxes.
Can you file bankruptcy when you debt is federal and state income taxes?
You can file bankruptcy at any time you like, but I will tell you that bankruptcy court does not have the authority to drop the taxes. The IRS or State may allow a payment plan instead of allowing them to begin confiscating property. You will still have to pay the taxes due and it may be to your benefit to work out a payment plan directly with tax department and not have to pay the legal and court fees involved with the bankruptcy.
Can you file banruptcy on federal taxes?
You can't. Bankruptcy does not forgive you for federal taxes.
If you don't pay taxes but work can you file bankruptcy?
Yes
Can a property management company file bankruptcy?
Sure.
Do you have to declare bankruptcy if you default on your mortgage?
No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.No. If you default on your mortgage the lender will take possession of the property by foreclosure. Whether you file bankruptcy is an unrelated issue.
Can you file bankruptcy on state and federal imcome taxes?
No you cant file on anything owed to government.
Can a person keep and file bankruptcy if the home is under any mortgage?
Yes he can file for Bankruptcy if he wants to depending on the situation of his property.
Can you file bankruptcy on the IRS in Washington state?
No. Federal taxes may not be discharged regardless of which state the bankruptcy is filed.
