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| *Loan,banking and credit>>>income tax |
If I filed bankruptcy this year will I get back all my income taxes when I filing income taes ? |
I filed bankruptcy this year so I would like to know can I get back all my incame taxes when I filing income taxes? If I understand your question correctly, you want to know if you will be entitled to a 100% refund of all of the taxes withheld from your paycheck when you file your tax return, because of the bankruptcy. The answer is NO. Bankruptcy does not erase your tax liability to the IRS. As others have pointed out, you may owe additional tax on the amount of debt forgiven under the bankruptcy. Yup. Filing bankruptcy is like getting a new start with a small blemish on your credit. Depends on what state you are in and what the laws are. If your creditors put an intercept on your federal taxes, you may not get it back. Usually the intercept must be in place before June of the current tax year. I am not an expert but I did have a similar experience with a tax intercept. It depends on what chapter of bankruptcy you filed. I hope you had a good attorney that told you everything you needed to know. I have actually done peoples taxes with a 1099 for unpaid debt, they were not well informed and they had to pay income tax on the amount of debt that they filed the bankrupcy on. So you may need check that out.....Good Luck! |
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