Posted on Jan 4, 2018

Accurate Accounting

Couple's Actions Precluded Tax Debt from Being Discharged in Bankruptcy:

In Faulk v. Comm'r, T.C. Summary 2017-92, the Tax Court upheld an IRS determination to proceed with a collection action against a couple who had argued that their 2006 tax debt had been discharged in bankruptcy. In reaching its conclusion, the court found that the couple had filed their tax return for 2006 more than four years after it was due and more than two months after the date the couple filed their bankruptcy petition and thus, consistent with Section 523(a)(1)(B) of the Bankruptcy Code, it followed that their 2006 tax liability was not discharged in bankruptcy.
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