Can I keep certain types of tax debts when filing for bankruptcy?

Yes, you can keep certain types of tax debts when filing for bankruptcy in Maryland. The IRS may allow certain taxes to be discharged, while other taxes may not be discharged. In order for a tax debt to be discharged, it must meet certain criteria such as: the tax debt must be more than three years old, the return must have been filed at least two years before bankruptcy, and other criteria must be met depending on the type of tax debt. For example, income tax debt can be discharged if it is more than three years old and the return was filed at least two years before filing for bankruptcy. When it comes to other types of taxes, such as payroll taxes, it can be more complicated. These types of taxes can only be discharged if certain criteria are met. Generally, payroll taxes must have been assessed at least three years before filing for bankruptcy and taxes must be related to a company that has been closed for at least two years. It is important to note that even if certain taxes can be discharged, they can still be subject to collection action, such as wage garnishment, until the case is closed. Therefore, it is important to contact an experienced attorney or tax advisor to review your specific situation and determine how filing for bankruptcy will affect your tax debt.

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Can I keep certain types of tax debts when filing for bankruptcy?

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