Does filing bankruptcy effecta person’sfederal income tax liability?
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Does filing bankruptcy effecta person’sfederal income tax liability?
I had to file bankruptcy this year and I would like to know if I will have any liability on my 2011 federal taxes?
Asked on March 17, 2011 under Bankruptcy Law, Nevada
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
You ask something that I think many people are also interedted in but it is really two questions in one. If you are asking if filing for bankruptcy relieves you from filing your taxes then the answer is no. If you are asking if filing for bankruptcy relieves you of your tax liabilities the answer there is also no. As for what your liability is speak with your attorney for the bankruptcy and your accountant. If it were that easy to dodge tax liability more people would file every seven years, don't you think? Good luck with figuring it all out. It is a difficult task sometimes and no one really likes to deal with these tax issues.
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