If you owe 2008 taxes, the Hurricane Ike automatic extension could be a reason to delay filing bankruptcy.

 Houston Bankruptcy Attorney Alex Wathen handles tax issues frequently.  Getting taxes discharged in bankruptcy is complicated and there are more twists than you think.

Houston Bankruptcy Attorney Alex Wathen handles tax issues frequently. Getting taxes discharged in bankruptcy is complicated and there are more twists than you think.

 

You thought Hurrican Ike was over with – wrong it is still affecting us.  Other than the thousands who are still fighting over insurance proceeds and trying to get their homes repaired, it still affects your taxes.

You have probably forgotten but if you took the October 15, 2008 extension for your 2007 taxes, then IRS automatically extended your extension until January 5, 2009, which means that if you want to get 2007 taxes discharged in a bankruptcy then, in addition to meeting the other requirements, you need to wait and file your bankruptcy until after January 5, 2012, I always advise people to wait a little longer if possible.  There are also other requirements such as when the return was actually filed and when the IRS assessed the taxes which are also traps.

 

Photo courtesy of Cliff1066 on Flickr.

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