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Thread: filing chapter 13 and taxes question

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    Banned i.breathe.in's Avatar
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    Default filing chapter 13 and taxes question

    Im filing chaper 13, and i have to show 3 years of tax returns. 2 of them are back taxes that i am just now going to be dealing with and then my 2007 return.

    my lawyer says he needs copies of all 3 of the returns which i have. does he notify the irs that i am filing bankruptcy and turn in my tax copies?

    it seems redundent if im going to be mailing them in and paying them myself.

    plus i dont want to go to kinkos and copy 10 million pages of tax stuff.....


    ps

    i should also add that im going to be asking for the payment plan would it be best to call or just fill out the form for that? would the payment plan include all 3 of my taxe years or do i need to file a seperate payment plan for each one?

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    Default Re: filing chapter 13 and taxes question

    the tax returns that your attorney is requesting are probably for the bankruptcy court and have nothing to do with IRS filing.

    As to the payment plan, you may want to consult with your attorney before you sign onto any IRS deal ... because the bankruptcy court needs to be 'tuned in' to the fact that back tax payments are also an expense that you must meet. If the bankruptcy court isn't 'tuned in' to this fact, the judge may set payments to other creditors at levels where you can't pay the creditors and the IRS too !!!

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    Banned i.breathe.in's Avatar
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    Default Re: filing chapter 13 and taxes question

    i have heard that the irs will settle with you, what are the qualifications for that and do you think i have a good likely hood of being able to settle?

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    Banned Melonie's Avatar
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    Default Re: filing chapter 13 and taxes question

    ^^^ First, you need to owe the IRS more than $10,000 for them to really be willing to negotiate. Second, it helps to be in a position where failure to settle would result in a business going bankrupt which would affect other people besides just the business owner. Third, it helps to not have a 'regular job' and/or titles/assets in your own name, so that the IRS would have some difficulty 'extracting' money from you both now and in the future.

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