I have filed my 2010 taxes, but I owe on both State and Federal. (About $800 total) Can I still file with money owed or do I have to wait until I pay the taxes?
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341 Date ~ July 6th, 2011 ~ Wish me luck
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I think you can most certainly file for BK - eventually you may need to get an installment plan with the IRS - if you owe UNDER $25K they WILL give you an installment plan. -
Yes, I owe 2500 between Feds and State and I filed. Matter of fact, my understanding is that (at least the IRS) will not even let you enter into a repayment agreement until AFTER discharge, so it buys a few months. Dont know about my state yet....but I ll deal with them as soon as I get the first letter from them. They dont go straight to garnishing, so they ll try other collection efforts first (including the installment plan mentioned) well before garnishment.Comment
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Your state will do the same.
Yes IRS will send you progressively more "serious" letters first - BUT- as soon as your BK is over you can call the regular 800# and just ask for an installment plan.
They BY LAW HAVE to give you one - you "only" owe $2,500 (total) so believe me it will NOT!!!! be a problem. Just call as soon as your BK is over!!! You WILL have an installment plan! THIS you don't need to worry about- I can't speak for AZ but most states allow the installment plan as well.Comment
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Thank you so much for the fast responses!341 Date ~ July 6th, 2011 ~ Wish me luckComment
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No problem...I suppose I should work now :-)
All my best wishes to you!!!!!Comment
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