taxes

[kjrmom911]

I think I have this figured out in my head, but wanted to run it by all of you. We are looking at filing our chapter 13 on June 1. Just stopped paying credit cards and heloc this month (at attorneys advice). We are planning a lien strip. We are about 100,000 dollars underwater on our first mortgage ( I know, we should just walk away), but we want to keep the house where are kids have grown up. My question is about taxes. We were audited for our 2008 taxes. After all said and done, IRS wants 1,084 dollars (down from the 40,000 they were initially saying we owed (riiighhhht). We are looking at probably owing around 5,000 this year. We will be making adjustments so this does not happen again, but can these two years be included in the bk or can we only include one year. I called my attorney and the "assistant who took my question told me taxes cant be included. I'm pretty sure that is wrong info and waiting for attorney to call back, but just thought I would check in here. Thanks for reading my long question.

[LadyInTheRed]

It depends on what you mean by "included".

Not all taxes are dischargeable. It depends on how old they are. I don't know the timeframes. Your 2008 taxes may be dischargeable but your current taxes are not.

But, if you owe taxes that cannot be discharged, you can include the payment of those taxes in your Chapter 13 plan.

[kjrmom911]

Thanks Lady In Red. Including the in our 13 plan was exactly what I meant. I don't believe they are dischargeable as they were filed 2 years ago.

[lolly78]

I am going to include my 2007 and 2009 taxes in my plan. Just got a letter from the IRS today indicating that they took my 2010 refund and paid off 2007 and some of 2008 reducing my tax debt to about $3500. Thing is the IRS has put in a claim for over $12,000! I will have to make sure that my attorney files an objection to their claim since they haven't made any attempt to modify their claim yet.