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does this apply to Taxes that are in arrears?

Posted from: British Columbia

One Response to “Taxes”

Barton Goth – Goth & Company Inc. -Trustee in Bankruptcy said...

Taxes are a debt that are included and cleared by the filing of a bankruptcy. The date you file for bankruptcy is cut-off for what can be cleared by the bankruptcy. So any taxes owing up to and including the date you file are released. As part of that a special tax return called the pre-bankruptcy tax return is done by your trustee and this will calculate the amount of tax in the current year that you will be released from by the bankruptcy.