CALL NOW!
FREE PHONE/VIRTUAL CONSULTATION

Can I Get Rid of Taxes?

Transcription:

My name is Robert Geller and I’m with the law office of Robert M Geller PA. There are two other lawyers with our firm. And today I want to talk to you about how, or whether you can get rid of certain taxes through filing bankruptcy. And the short answer to that question is yes, no, maybe. So, so what am I talking about here? Well, let’s first talk about payroll taxes and trust fund or trust fund taxes. So generally when you collect a tax from somebody else who pays it, like people pay sales tax or your employees work and they have to pay certain federal withholding tax, which you have to turn it over to the government. Um, and you’re supposed to collect that tax and turn it over to the government. And for whatever reason, you didn’t turn that over to the government. Those taxes are not dischargeable in bankruptcy.

And I don’t think bankruptcy is going to help you generally. So where is the yes. Answer to what is dischargeable in bankruptcy and that lies with certain income tax. So certainly income tax is dischargeable in bankruptcy. Many people are surprised when they come in my office to learn that. And so you asked what types of income taxes, distractable bankruptcy. Well, there are certain criteria to that. Let me kind of give you the general, uh, criteria. First of all, the tax returns have to be filed at least two years prior to the time the bankruptcy has been filed, the second criteria, and these are just general criteria. There are some others is that the return has to be do more than three years prior to filing bankruptcy. So we are now into, um, September of 2017. If you filed your tax return, um, for 2013, it would have been due in April of 2014.

If you filed a timely and you didn’t get any extensions, then your taxes for, uh, 2013 would be dischargeable because the due date was April of 2014. And then the final criteria is you must not be assessed that tax within 240 days of filing bankruptcy so that if the government came in a week before you filed the bankruptcy and said, you owed more tax, that would not be potentially dischargeable in bankruptcy. And let me just add a caveat to that, that there are some other exceptions that make that tax not dischargeable. It would be a good idea to come in and speak to a qualified bankruptcy attorney about whether those taxes are dischargeable. Some other things that are dischargeable in bankruptcy would be a certain penalties related to the income tax. So that’s something, again, you can discuss with an attorney when you come in the office. Um, if you need more information about bankruptcy, feel free to click on the link. We’ll be glad to provide you that information. I am Robert Geller and I look forward to helping you build a bridge to a brighter future.

Tampa Bankruptcy Law Blog

Should You Pay Back What You Owe Loved Ones Before You File for Bankruptcy?

Florida Bankruptcy Laws It’s common for people who are struggling financially to turn to their friends and family for help....
Read More

Bankruptcy and Family Law: Does Filing Affect the Child Support I Pay or Receive?

Bankruptcy and Family Law If you’re like many people, the well-being of your children is your most important priority. Struggling...
Read More

5 Tips for Overcoming the Emotional Toll of Bankruptcy

Florida Bankruptcy Attorney Getting through the bankruptcy process is about more than just improving your finances. Working with a Florida...
Read More

Bankruptcy and Divorce: The Far-from-Perfect Storm

Bankruptcy and Family Law Bankruptcy and divorce separately are two of the most stressful events you can experience in your...
Read More

Does the Pandemic Have You in a Holding Pattern? Here’s How to Know When to File for COVID Bankruptcy

COVID Bankruptcy If you’re struggling to make ends meet and you feel as if your life is on hold because...
Read More

Will Your Favorite Retailer File for Business Bankruptcy in 2021?

Business Bankruptcy 2020 was a tumultuous year and many of the financial challenges caused by the pandemic are expected to...
Read More

Boosted and Extended Benefits Keeping Unemployed Afloat – But For How Long?

Unemployment Benefits Were you one of the millions of people who ended up out of a job and using unemployment...
Read More

Should Bankruptcy Laws Be Adjusted Because of COVID-19?

Bankruptcy Laws The COVID-19 pandemic brought a lot of changes throughout 2020 and many are expected to continue into 2021...
Read More

Will 2021 Bring Student Loan Forgiveness and Will It Mean a Decrease in Student Loan Debt-Related Bankruptcies?

Student Loan Debt Are you one of the millions of Americans who struggle to make ends meet every month due...
Read More

Business Bankruptcy Trends Ahead for 2021

Business Bankruptcy Trends It should come as no surprise to anyone following the economic impacts of the COVID-19 pandemic that...
Read More

Bankruptcy

For The Next 5 Days GET A FREE BOOK About Bankruptcy

Learn More

Infographics

We are A Debt Relief Agency.
We help people file for bankruptcy under the Bankruptcy Code

Pay Online Bankruptcy Courses Newsletter Subscription

NACBA Logo avvo1 avvo2 avvo3 LEA BBB Logo RG Seal

Call For A Free Initial Consultation

813.254.5696

Tampa Office

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405

Map And Directions

St. Petersburg Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G
St. Petersburg, FL 33701
T: (727) 532-3939

Map And Directions

Pasco Office

23526 State Road 54
Lutz, FL 33559
T: (813) 336-2320

Map And Directions