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LegalCornerTM - Bankruptcy Basic Facts F.A.Q.'s

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Q.Can I file for bankruptcy if I have Not paid my Taxes for the past few years?

A.No. As of October 17, 2005 when the new bankruptcy law took effect, individuals planning to file for bankruptcy under either Chapter 7 or Chapter 13 must now show proof of their income by providing a copy of their federal tax return for the years preceding the bankruptcy filing. If a bankruptcy applicant has not paid taxes for the previous tax year, the bankruptcy court will postpone their matter, but will not proceed until it receives copies of the filed federal and state tax returns.




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