Can I discharge taxes in a Chapter 11 bankruptcy?

Yes, you can discharge taxes in a Chapter 11 bankruptcy in Oklahoma. This type of bankruptcy is used by businesses to reorganize their debt. It is also sometimes used by individuals with high amounts of debt, including taxes. When it comes to filing for Chapter 11 bankruptcy, the debtor must submit a plan. This plan should include how the debtor intends to pay off all their debts. In the plan, the debtor can include a way to discharge taxes that are owed. In order for the tax to be discharged, the debt must meet certain requirements. First, the tax must be at least three years old. Second, the debtor must have filed a tax return for the tax in question at least two years before they filed for bankruptcy. Finally, the debtor must not have committed fraud or evasion by not filing a tax return or failing to pay the tax. If you meet all the requirements listed above, you can most likely discharge taxes that you owe in a Chapter 11 bankruptcy in Oklahoma. Once the bankruptcy is accepted, the taxes will be eliminated from your debt and you will no longer have to worry about paying them. In conclusion, filing for Chapter 11 bankruptcy in Oklahoma can give you the opportunity to discharge taxes that you owe. However, you must meet certain requirements in order for your tax debt to be eliminated. After the requirements are met, you can proceed to file for bankruptcy and the taxes that you owe will be discharged.

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Can I discharge taxes in a Chapter 11 bankruptcy?

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