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Filing bankruptcy tomorrow/file 2004 taxes?

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Diane143

Junior Member
What is the name of your state? PA

Hi all, to make a long story short my husband is now at H and R block filing back taxes for 2002 and 2003 so we can get on some kind of payment plan for the bankruptcy papers (An expense that is not dischargable). Should we also file 2004? We know we owe some money for 2004 but it is not required to file until April 2004? Since we are filing bankruptcy, should we do it now? Thanks Diane
 


LdiJ

Senior Member
Diane143 said:
What is the name of your state? PA

Hi all, to make a long story short my husband is now at H and R block filing back taxes for 2002 and 2003 so we can get on some kind of payment plan for the bankruptcy papers (An expense that is not dischargable). Should we also file 2004? We know we owe some money for 2004 but it is not required to file until April 2004? Since we are filing bankruptcy, should we do it now? Thanks Diane
I certainly think that it would be best to also file 2004 before you file bankruptcy. You really need to know your liability there as part of the proceeding.
 

Diane143

Junior Member
Diane143

Actually, we know we owe about $1200 for 2004. We also did 2002 and 2003 and we are getting back $800. According to some I have asked, if we applyed some or all of the refund to 2004's tax obligations ,we could reduce how much we owe ......but technically 2004 is not due yet and we could go on a repayment plan with the IRS by sending in a deposit by April 15 with the appropriate forms asking for a repayment plan. I am trying to figure out which would be the least complicated considering the bankruptcy.
 

Snipes5

Senior Member
The least complicated would be to file your taxes, and send them money regularly. Don't make an installment agreement with them, just behave as though you have one.

If you make an actual agreement with them, and you are late with even one payment, they will call the entire debt. Incidentally, if you file electronically (or even if you don't), you can file now, and just pay them by April 15th, or pay as much as you can, anyway.

Also, every time they write to you asking for money, send them some, that will keep them off your back.

Snipes
 

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