Bankruptcy and taxes intersect in complex ways. Certain tax debts can be discharged in bankruptcy, while others cannot. Highlands CPA helps you understand the tax implications and navigate the process effectively.
Our bankruptcy tax services include analysis of which tax debts may be dischargeable, pre-bankruptcy tax planning and return preparation, coordination with your bankruptcy attorney, post-bankruptcy tax compliance setup, and representation with the IRS during bankruptcy proceedings.
Generally, income tax debts may be dischargeable if the returns were due more than three years ago, filed more than two years ago, and assessed more than 240 days ago. However, the rules are complex and each situation is unique.
If you're considering bankruptcy as a solution to tax debt, we help you understand whether your tax debts qualify for discharge and ensure all prerequisites are met before filing.