Daniel Cullinane CPA
25 Plaza 5 25th fl Jersey City NJ phone 732-516-1648 fax 732-516-9778
2500 Plaza 5 25th fl Jersey City NJ 07311 phone 732-516-1648 fax 732-516-9778
Copyright © Daniel Cullinane CPA.
The IRS does not like to talk about the use of bankruptcy to remove liabilities, but the reality is that many IRS taxes, penalties, and interest do qualify for complete 100% discharge in Bankruptcy.
1) The tax liability must be 3 years old or older to discharge bankruptcy
2) The tax returns themselves had to have filed at least 24 months before the petition date.
3) 240 days must pass from the date of assessment
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