Taxes due after discharge??

[lolie]

So, we had our 341 and the trustee filed us a no asset Chapter 7... Yay!

We owe for income taxes filed this year. Those obviously are not dischargable.

We didn't pay on April 15th, because our accounts were frozen and we didn't have the money. However, by our discharge date, which is July 6, we will have the money to pay our tax due in FULL.

Will there be a penalty charge and interest on the taxes that we owe for last years income taxes? If so, how much? I think I saw 0.5% for each month late. We filed on time, we just didn't pay because of the BK.

Thank you and please no questions on how we are able to pay our taxes is FULL yet file a CH 7. We have (had) A LOT of debt.

[AngelinaCatHub]

Yes there is a penalty. At least you did file. That is important. If you had just paid $10 that would have been better, but it will take time for them to catch up. Then handle it.

Clark Howard was talking about this not long ago. I've not the time to research but he has tips on his site. clarkhoward.com I think. Check it out and do a search for tax tips. 'Hub

[HHM]

If you filed on time, you won't have a failure to file penalty, but you will have a failure to pay penalty. And interest will accrue from April 15.