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Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases
The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.
Free - 2010 Bankruptcy Strategies Explained
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California Bankruptcy Lawyers - Taxes
At best, the dischargeability of federal and state taxes is confusing for debtors, their
bankruptcy lawyers, creditors, their bankruptcy lawyers, and trustees. This confusion is created by cryptic and
often out-dated tax codes which are amended frequently and result in conflicting appellate decisions. Any
bankruptcy lawyer can object. The Code also provides, in 11 U.S.C. 523 - Exceptions to Discharge, that (a)
discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual
debtor from any debt - (1) for a tax or a customs duty - (A) of the kind and for the periods specified in section
507(a)(2) or 507(a)(8) of this title, whether or not a claim for such tax was filed or allowed; (B) with respect
to which a return, if required - (i) was not filed; or (ii) was filed after the date on which such return was
last due, under applicable law or under any extension, and after two years before the date of the filing of the
petition; or (C) with respect to which the debtor made a fraudulent return or willfully attempted in any manner
to evade or defeat such tax.
California Bankruptcy Lawyers - In Practice
Only taxes which were declared, due, and payable, more than two before filing a California case are
dischargeable. Any deviation from full disclosure by the debtor, their bankruptcy lawyer, or other interested
party will prevent discharge. In practice, expect bankruptcy lawyers representing taxing authorities to file liens
before the expiration of two years. Tax liens will be enforced against specific property regardless of filing.
All prudent debtors have questions about applicable laws before filing. The best source of legal advice is a qualified
bankruptcy lawyer with substantial, current experience practicing before federal courts. Because state and federal laws change frequently,
the results
achieved by bankruptcy lawyers for their clients also change frequently in direct response to these
amendments. Depending upon the personal goals and situation of each debtor, all options may not
apply. The best bankruptcy lawyers are intimately familiar with all options, as an assortment of tools, that may
be combined creatively to maximize client benefits.
Back to California Bankruptcy Lawyer FAQ content page.
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