One kind of a debt that may be difficult to discharge in bankruptcy is a debt that is a tax. It turns out that sometimes you can discharge an income tax debt in bankruptcy in Florida. In order for your income tax debt to be dischargeable, it has to meet certain legal guidelines.
First, the tax return for the given tax year must have been done with extensions, if you got them, at least three years before the day you decided to file for bankruptcy. So, for example, let’s say you wanted to get rid of your tax debt for 2015. When was the tax return for 2015 due? It was due April 15th 2016. If you have got an extension, that means it was due October 15th 2016. To satisfy this first requirement, then you would have waited until October 16th 2019. If you are even one day early, you lose. According to the Balance, the tax return must have been due at least three years before you file the bankruptcy papers and notice.
The second requirement is you must have actually filed legitimate and accurate returns for the given tax year. You should have done this at least 24 months before the day you filed your bankruptcy papers. There is no wiggle room, no forgiveness and it is down to the day. The third requirement is that the tax you are trying to get rid of cannot have been assessed by the taxing authority during the 240-day window immediately prior to the day you file your bankruptcy papers.