File your taxes on time. That's an order!

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OK, so I was kidding a bit, but not much. Notice that I didn't say that you needed to pay those taxes (maybe you can't), but you need to file them on time. The point is, in the event that later on you consider filing bankruptcy, those unpaid taxes don't have a chance of being discharged (eliminated) in your bankruptcy if you didn't file them, and the same might be true is you filed them late.

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Topics:  Consumer Bankruptcy, Dischargeable Debts, Income Taxes

Published In: Bankruptcy Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Malcolm Ruthven | Attorney Advertising

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