How are my taxes impacted if I have filed bankruptcy?
Depending on which Chapter you filed for, taxes may not be exempt.
With Chapter 7 bankruptcy, federal taxes are exempt from discharge.
When filing Chapter 13 bankruptcy, it is very important to file and pay your taxes during the bankruptcy proceedings because the court can dismiss your claim if you fail to meet this requirement. Dismissing the claim leaves you responsible for all of your debts.
For further tax information on bankruptcy, read the IRS Publication 908 (10/2012), Bankruptcy Tax Guide.
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