Tax Returns Due After the Bankruptcy Filing

Tax Returns Due After the Bankruptcy Filing

For debtors filing bankruptcy under all chapters (chapters 7, 11, 12, and 13), the Bankruptcy Code provides that if the debtor does not file a tax return that becomes due after the commencement of the bankruptcy case, or obtain an extension for filing the return before the due date, the taxing authority may request that the bankruptcy court either dismiss the case or convert the case to a case under another chapter of the Bankruptcy Code. If the debtor does not file the required return or obtain an extension within 90 days after the request is made, the bankruptcy court must dismiss or convert the case.


Disclosure of debtor's return information to trustee.

 

In bankruptcy cases filed under chapter 7 or 11 by individuals, the debtor's income tax returns for the year the bankruptcy case begins and for earlier years are, upon written request, open to inspection by or disclosure to the trustee

    • Related Articles

    • Bankruptcy Code IRS Tax Filing Requirements.

      Bankruptcy Code tax filing requirements. Debtors filing under chapters 7, 11, 12, and 13 of the Bankruptcy Code must file all applicable federal, state, and local tax returns that become due after a case commences. Failure to file tax returns timely ...
    • What Documents Should You Gather when Filing For Bankruptcy?

      Filing for bankruptcy is a challenging process. Regardless of whether you’re filing for Chapter 7 or Chapter 13, you’ll have to prepare all the necessary documents beforehand. Here’s a closer look at what essential documents you need to gather if ...
    • Some Potential Negatives of Filing for Bankruptcy Yourself

      1. Lack of Legal Expertise: Bankruptcy laws can be complex and vary depending on your jurisdiction. Without the guidance of a knowledgeable bankruptcy attorney, you may struggle to navigate the intricacies of the legal process. 2. Potential Mistakes: ...
    • Where can I get basic bankruptcy information?

      U.S. Courts Bankruptcy Basics: https://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics Nevada Legal Aid - Bankruptcy Informational Videos: https://www.lacsn.org/practice-areas/consumer-rights-project/bankruptcy/350-bankruptcy-videos ...
    • What Are Some Benefits of Bankruptcy?

      Here are some benefits of filing for bankruptcy: 1. Fresh start: Filing for bankruptcy can give a person or a business a fresh start. It helps eliminate or reduce the debts they owe, giving them a chance to start over and manage their finances ...