Does a bankruptcy help with my back taxes?

Posted on Monday, April 14, 2008

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I owe bunches o money to the government with taxes. They wont leave me alone, and I am sick of it. The just garnisheed my wages and are only leaving me with a fraction of what I make. There is no way I can ever afford to pay them back, even if I live in a tent in the River Valley!!! What can I do? Will bankruptcy help me? I had a friend who told me that a bankruptcy can`t touch my taxes, is this right? any help would be apreciated

Filed under: Bankruptcy
 posted by Questions @ 8:09 am
1 Expert Comment:

 At April 18, 2008 | 8:56 am , Barton Goth GCO Bankruptcy Trustees Said...

Income taxes are debts that are cleared by a bankruptcy. However, they are only cleared up to the date of bankruptcy. As a result of that in the year of bankruptcy we must do 2 tax returns, one from January 1 to the date of bankruptcy and one from the date of bankrutpcy to December 31 (we call these the pre and post bankruptcy return). If there is any money owing on the pre-bankruptcy return or any period prior to that it is cleared by a bankruptcy. If there is any money owing after the date of bankruptcy it is something you are still responsible for.

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