Tax Returns Must be Filed when Filing Bankruptcy

| Nov 16, 2016 | Bankruptcy Law |

Thinking of filing a Chapter 13 bankruptcy? Know that all tax returns that you are required to file for the prior 4 years must be filed before the bankruptcy meeting of creditors which occurs approximately 30 days after filing. If you live in New Jersey, this means both federal tax returns and New Jersey state tax returns. Bankruptcy section 1308 states the requirements. If you were not required to file, for example, if you did not have enough income, then the requirement refers to the last years you were required to file. The trustee has limited discretion to extend the time.