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Tax

Can we include past income tax owed to government in a bankrupcy?

Posted from: Ontario

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One Response to “Tax”

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

While there is a list of debts that are not released by bankruptcy, income tax is not one of them.

So when you file for bankruptcy you can and must include the income tax debt and you can anticipate that all taxes owing as of the date of bankruptcy, including the current year in which you file, will be cleared upon succesfully completing the bankruptcy.