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Bankruptcy Law Frequently Asked Questions (FAQs) | Missouri & Illinois Common Bankruptcy Legal Questions

 


Q: Can I get rid of back taxes through bankruptcy?

A: We get rid of back taxes for our clients all the time.  By “taxes”, I mean ‘income’ taxes, and by “old", I mean income taxes more than 3 years old.  Under the law, there are 4 or 5 qualifications that have to be met, but once these are met…in bankruptcy…those taxes are gone.  

Note: Filing bankruptcy does not get rid of ‘withholding’ or ‘sales’ taxes, no matter how old they are.


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