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

When filing for bankruptcy in Nebraska, certain types of tax debts can be kept. The type of tax debt that can be kept when filing for bankruptcy depends on the type of debt and the time period of the debt. There are two different types of taxes: priority and non-priority. Priority tax debts are government taxes that have been issued recently, such as back taxes that are owed from the current year. Priority taxes must be paid in full in the bankruptcy process. Non-priority taxes are taxes that have been issued previously, such as back taxes that are from the previous year. Non-priority taxes can be discharged in the bankruptcy process. In addition to the type of tax debt, the time period of the tax debt is also important when filing for bankruptcy in Nebraska. Tax debts that are more than three years old are typically considered non-priority and can be discharged in the bankruptcy process. Tax debts that are less than three years old may be considered priority and must be paid in full in the bankruptcy process. Knowing the type and time period of tax debt when filing for bankruptcy in Nebraska can help you understand if certain types of tax debts can be kept. It is important to consult a qualified bankruptcy attorney to ensure that all taxes owed are properly addressed in the bankruptcy process.

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

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