Income tax can, in some instances, be discharged in a personal bankruptcy. In order for income taxes to be dischargeable, the tax returns had to have been filed at least two years prior, and the same amount of time would have to have gone by before they can become dischargeable.

Income tax can, in some instances, be discharged in a personal bankruptcy. In order for income taxes to be dischargeable, the tax returns had to have been filed at least two years prior, and the same amount of time would have to have gone by before they can become dischargeable.

What Are The Exemptions For Bankruptcy In Florida?

In a Chapter 7 case, in order to obtain the benefit of the discharge, meaning the wiping out of the debt, the tradeoff that the federal government has set is that a consumer is limited on the amount of assets they can keep. The exemptions are the list of property that comes from state and federal law, which says which things you are allowed to keep. In Florida, the abbreviated list includes your homestead or primary residence, a certain allowance of personal property, which includes basic household goods, a limited allowance of vehicle equity, retirement funds, and some other assets. In cases outside of Chapter 7, such as Chapter 13, you are allowed to keep all of your assets, but the exemptions may affect your monthly repayment plan.

Law News Archives

Husband Ordered to Pay Over $23 Thousand – Overturned

October 7, 2013

So unless the loan has been refinanced or modified, both spouses are still legally responsible to the bank in a foreclosure if the loan falls behind.

FCCPA Claim not Compulsory Counterclaim to Foreclosure

September 12, 2013

the Fair Debt Collection Practices Act (“FDCPA”), and held that debt collection violations that occur during a foreclosure case.

First BP Witness Takes Stand Monday

May 29, 2013

The trial will determine what additional money BP and its contractors must pay out to claimants, including in Clearwater and Pinellas County.

Candlelight Vigil in North Greenwood Honors Newtown Victims

A handful of supporters to expand gun background checks met in North Greenwood on the six month anniversary of the shootings at Sandy Hook Elementary.

Firefighter Reacts to Punch In Face

Clearwater Fire and Rescue investigator was trying to find out what went wrong with Gary Steven Cook’s car Wednesday afternoon on Myrtle Avenue.

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