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When you file bankruptcy you are declaring to the world that you are insolvent. I cannot pay my bills.
This could be in the case of your personal life or business. In order for the court to establish that you cannot pay your bills a trustee will be placed over your finances. This person is usually an attorney.
First you need to file your taxes. Before you can include taxes the IRS has to access your liability. Taxpayers filing under chapters 7, 11, 12, and 13 of the Bankruptcy Code must file all applicable federal, state, and local tax returns that become due after a case commences.
Failure to file tax returns timely or obtain an extension can cause a bankruptcy case to be converted to another chapter or dismissed. In chapter 13 cases, the debtor must file all required tax returns for tax periods ending within 4 years of the filing of the bankruptcy petition.
Bankruptcy is complicated. If you are thinking about taking this route please book an appointment or call this office.
We love our customers, so feel free to visit during normal business hours.
14404 Old Mill Road, Office 201, Suite B,Upper Marlboro, Maryland 20772, United States
Mon | 11:00 am – 08:00 pm | |
Tue | 11:00 am – 08:00 pm | |
Wed | 11:00 am – 08:00 pm | |
Thu | 11:00 am – 08:00 pm | |
Fri | 11:00 am – 08:00 pm | |
Sat | 12:00 pm – 08:00 pm | |
Sun | Closed |
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