If i owe back taxes form 9years ago how can i discharge that debt

Asked almost 2 years ago - Iowa City, IA

i owe 1,5000 dollors

Attorney answers (5)

  1. Michael L Detzky

    Pro

    Contributor Level 14

    5

    Lawyers agree

    Answered . These taxes may be dischargable in bankruptcy but the amount of the debt is less than the typical fees and costs involved in a bankruptcy case. If you have other debts such as credit cards or medical bills, then it may be wise to consult with an experienced bankruptcy attorney in your jurisdiction for assistance.

  2. Deborah F Bowinski

    Contributor Level 17

    5

    Lawyers agree

    Answered . The taxes might be dischargeable in bankruptcy - it will depend on the type of tax and when the returns were filed and the taxes assessed. You should consult with a bankruptcy attorney who can tell you more specific information after looking at your tax records.

  3. Christopher Ryan Lee

    Contributor Level 6

    5

    Lawyers agree

    Answered . If you are referring to an IRS debt they only have 10 years to collect the tax from you after you file. There are certain things that will extend the 10 year time period but depending on your situation you may not have much longer before the IRS can no longer collect the tax owed.

  4. John P Fazzio III

    Pro

    Contributor Level 16

    4

    Lawyers agree

    Answered . As Mr. Detsky said, while these taxes may be dischargeable, the cost of doing so in the Bankruptcy is greater than the amount of the debt. You should contact the IRS or State Tax Authority and get on a payment plan. I'm going to assume this is an IRS debt. If so, under a Streamlined Fresh Start Installment Agreement, you can get into an Installment Agreement and take care of this for about $21/mo.

  5. Christopher Michael Larson

    Contributor Level 19

    1

    Lawyer agrees

    Answered . Pay them or wait for 10 years from the date of assessment. There is likely no way to discharge them for less than $1500.

    Christopher Larson
    Insight Law
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