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IRS BAKRUPTCY FILING

               DANIEL CULLINANE CPA                                                              Phone:          732-516-1648

                           Certified Public Accountants                                                                                        FAX               732-516-9778

                               328 Amboy Ave, Metuchen NJ   08840                                                              

                                                                                                                                     


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The IRS does not like to Talk about the use of bankruptcy to remove tax liabilities, but the reality is that many IRS taxes, penalties, and interest do qualify for complete 100% discharge in Bankruptcy.


There are three general rules that must be met in order to discharge income taxes


1) The tax liability must be 3 years old or older from the due date of the return, including extensions.


2) The tax returns themselves had to have filed at least 24 months before the petition date


3) 240 day must pass from date of assessment. There are events that can "toll" the 240 day clock.











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