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claiming insolvency for an individual
I am claiming insolvency on a tax owed due to a repossession of a house. I filed bankrupcy on the house in 2002 and in 2004. $30,000 of income showed up on my taxes. I am now being taxed for this and I have no way to pay it. I feel I should not owe this tax
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when you were declared bankrupt all your debts should have been cancelled with it, any money left over after your income is normally split between your creditors but this depends if deemed you have "spare income" after your salary or earnings.
You will only owe this tax if it were incurred after your term of bankruptcy ended.
You will only owe this tax if it were incurred after your term of bankruptcy ended.
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