Check out this video about Taxes and Chapter 7 Bankruptcy. Which types of taxes are dischargeable during the bankruptcy proceedings and which taxes will not be pardoned. What is a priority status for taxes during bankruptcy? And more.

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If you are considering filing for a Chapter 7 bankruptcy, it is important to understand how taxes will be affected. Bankruptcy can provide relief from overwhelming debt, including taxes, but there are some important considerations to keep in mind. In a Chapter 7 bankruptcy, certain taxes may be discharged or eliminated as part of the bankruptcy process. These taxes include income taxes from returns due at least three years prior to the bankruptcy filing, taxes assessed at least 240 days prior to filing, and taxes for which the tax return was filed at least two years prior to bankruptcy. However, not all taxes are dischargeable in a Chapter 7 bankruptcy.

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