Expert: Terry Leeders - 10/13/2009

Question
My husband runs his own landscaping business and makes around $40k/year.  He hadn't filed taxes for the last 4 years and now owes in excess of $55k/ We tried an offer to compromise and they said no.  We file each year we have been married as married separate.  The house is in my name only.  If he was to file bankrucpy becuz he can not afford this debt wld he be able to wipe off this debt?

Answer
Sorry, sounds like they will be non-dischargeable.
To be dischargeable, income taxes must be at least 3 years old, filed on time and accurately.
If they were late filed, they need to have been filed at least 2 years before the bankruptcy in order to be dischargeable.