taxes

What is the name of your state? Tx
No one on the bankruptcy forum could help me with this question. I have currently filled for bankruptcy and I should have my 341 meeting within one month. I just received a xmas bonus and they did not take out any taxes. I know that this money is the property of the bankruptcy estate, however I am concerened about the taxes due. I have been told that since the taxes are not officially due untill April 15, 2004 that I cannot pay the taxes on this money. Here is the problem, come April 15, I am going to have to pay about $6,000 in taxes that I will not be able to pay. I am currently behind on my estimated taxes for the year but I can catch up and pay the IRS what I owe with my bonus. Are current year taxes not considered a priority over all other debts? And, what if I do pay the IRS what I owe them for 2003? Is the trustee going to ask the IRS to refund money that I owe them?

[abezon]

I'd recommend you learn a bit more about the BK process. Hire an attorney to take over the BK. You are allowed to pay attorney fees as long as they are not unreasonable. You've certainly got the money now! At the very least, get a book on BK law.

Did the court issue any orders regarding you paying creditors druing this time? Are you allowed to pay "ordinary & necessary expenses"? If you are, your taxes are an ordinary & necessary expense. Visit you tax preparer & ask him/her to figure out how much you need to pay to have a zero balance due. Then send in the estimated payment. At the 341 hearing, take copies of the bonus check, the estimated tax return, & the estimated payment you send the IRS. This will show the trustee that you haven't sent a big payment to the IRS in an effort to get a big refund after the BK closes.