Filing an income tax return after filing for bankruptcy does not have to be a problem, as long as you know what to watch out for, including when and how to file.
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Tax Implications of Filing for Bankruptcydoi:urn:uuid:c81b0fd8d2918410VgnVCM100000d7c1a8c0RCRDIf you find yourself weighing filing for bankruptcy, you should know how the tax code applies to the situation.Bonnie LeeFox Business
Personal income taxes may be discharged in a Chapter 7 bankruptcy when (1) the date a tax return for the period was last due (including extension) was more than three years prior to the date of the bankruptcy filing (Bankruptcy Code §§523(a)(1)(A)and507(a)(8)(A)(i)); (2) n...
If youfile for and claim bankruptcy, you may be exempt from certain offsets or garnishments. If your refund is smaller than expected, the IRS will issue you a notice explaining any adjustments, including offsets and garnishments. In most cases, if your refund is offset and you have a rem...
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I examine whether tax return information is useful to equity investors. I do so indirectly, by exploiting unique features of the syndicated loan market, as
Natasha Korecki
If an 83(b) election was filed with the IRS and the equity value falls or the company files for bankruptcy, then the taxpayer overpaid in taxes for shares with a lesser or worthless amount. Unfortunately, the IRS does not allow an overpayment claim of taxes under the 83(b) election. ...
In most cases, if you have your taxes withheld and you earn under a certain amount, you will only have to worry about filing a tax return. What type of taxes can be discharged in a bankruptcy? Individuals that are considering a bankruptcy to find relief from their tax debt should ...