Yes. The interplay of the tax codes and the Bankruptcy Code is complex, but in somewhat oversimplified terms, if a tax return creating a tax debt was filed more than three years before the filing of the Chapter 7 petition, the tax debt can be discharged. Stated another way, if a Chapter 7 petition is filed within three years of the filing of the tax return creating the tax debt, the tax debt cannot be discharged, and the Debtor will still owe the taxing entity when the Chapter 7 is completed. Certain taxes, such as employer withholding taxes, will not be forgiven, however, even if they are older than three years, and if you have not filed your income tax returns, even older taxes may not be forgiven. Even then, however, a Chapter 13 filing can allow more time to pay in accordance with a plan, without additional penalties and interest to accrue.
Make an Appointment
Drose Law Firm
Drose Law Firm, at VentureX
4900 O’Hear Ave, Floor 100
North Charleston, SC 29405
Map & Directions
Our Satisfied Clients
I just went to see Mr. Drose and not having been in this situation before, I did not know what to expect. Well, Mr. Drose was most professional, did not charge me for a half hour of his time and found his advice to be sound advice which I will follow to ease out of the problems that i have, Ii would highly recommend Mr. Drose... (read more)
Michael is known throughout the local community as a lawyer of skill, with high ethics, and posessing a unique ability to counsel clients thorugh the very difficult area of bankruptcy. I have personally referred many clients to Michael — all have been thoroughly pleased. (read more)
Michael Drose is an excellent attorney with the highest ethical standards. He is a credit to the profession and should certainly have an A rating. (read more)
Material presented on the Drose Law Firm website is intended for information purposes only. It is not intended as professional advice and should not be construed as such.
The material presented on this site is included with the understanding and agreement that Drose Law Firm is not engaged in rendering legal or other professional services by posting said material. The services of a competent professional should be sought if legal or other specific expert assistance is required. Any unauthorized use of material contained herein is at the user’s own risk. This website is not intended to constitute legal advice or the provision of legal services.