Kentucky Bankruptcy Law

Counsel with Care

New Deadlines for Filing Tax Returns as Required by Section 1308

Makes sense. File your tax returns. I have had a number of people fail to file returns because they knew they could not pay what was due. Unfortunately, the IRS will still assess a tax against you and by NOT filing, you prevent the statute of limitations to begin to run on that tax year. This prevents older tax debts from being dischargeable in the bankruptcy.

Chapter 13 Trustee, EDKY: Trustee's Blog

I have a new policy regarding the deadlines for filing tax returns pursuant to section 1308 of the Bankruptcy Code.

REFRESHER:  Section 1308 requires debtors to file with the tax authorities all tax returns for all tax periods ending during the four (4) years before the date of the petition.  The plan cannot be confirmed until these tax returns have been filed, and a case can be dismissed for not timely filing the returns.

If the required tax returns have not been filed by the day before the first scheduled section 341 meeting of creditors date, the trustee may hold open the meeting for a reasonable period of time to allow the debtor additional time to file the tax returns, subject to a maximum number of days depending on whether the return was past due at the time of the petition or not.


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January 18, 2019 - Posted by | Uncategorized

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