I have been emotionally paralyzed - fear, depression, overwhelmed with so many adverse changes in the past three months (closed my business, having trouble finding a job in my field) - and I have finally reached a point where I have to begin working on my bankruptcy filing. My attorney requires the past two years of tax filings - federal and state - and I did file federal taxes, but didn't file state taxes in 2007 or 2008. My 2008 filing is prepared but I owe money I can't pay now, so I'm afraid to actually mail it. My 2007 state filing is complicated because I moved to a new state mid-year and have to file in both states. I'm just stuck at this point because I know I will owe taxes for both years - money I don't have. I know taxes cannot be discharged in a bankruptcy - but does anyone know if states will work with people on makingn payments - very small payments since I am only marginally employed and all my income goes to paying rent, etc. If I could overcome this fear I could move on.
-
-
I'm in CO, and they will setup payment plans. I don't know how low they will go on payments, but I owed about 1900 and they set me up with payments of 140. -
Why not go ahead and file, then put your non-dischargeable tax debt into a chapter 13 plan? You can pay it off over 5 years and the bk stops the penalties and interest.Pay no attention to anything I post. I graduated last in my class from a fly-by-night law school that no longer exists; I never studied or went to class; and I only post on internet forums when I'm too drunk to crawl away from the computer.Comment
-
Well the OP stated that they were having trouble finding a job and may not qualify for a chapter 13. The federal taxes can also be set up on a payment plan... I have done it numerous times in my life. They do charge you a small interest fee for setting it up though. It is in your best interest to get your taxes filed though ... did you ever submit extension requests or did you just not file them? You don't want to penalized any further for not filing.BK Ch 7 Discharged 09/2009 | Anything I say can and should be used as friendly advice and sharing of experiences with an unbiased viewpoint.
Scores: EQ 745 EX 704 TU 710 as of 08/15/2012Comment
-
File the tax returns even if you don't have a dime to pay what is due. You will have some penalities (that can be abated) but will be far less than if you do not file at all.Filed Ch7 5/28/09 (Pro Se) Orlando, 341 7/01, UST selected case for audit 7/01, Last day for objection 8/31. Audit report filed 9/10, no material misstatements. Discharged and closed 9/22/2009Comment
-
File them. Then call the IRS and explain that you want to set up a payment plan. Trust me, some money to the IRS is better than no money at all.Comment
Comment