Substitute for Return – Taxes, IRS and You

Bernie Gartland

Bernie Gartland

Hey everybody, Bernie Gartland from the Gartland group. We do these podcasts because we want to give you information that quite frankly you don’t get anywhere else.

There is something going on in the 9th Circuit that is unbelievable and I do mean unbelievable. I have to give you a little background on what the IRS can do if you do not file your tax returns. When you do not file your tax returns, they can do what is known as a substitute for return under a special IRS┬ácode. When they do, that substitute for return, those taxes cannot be discharged in bankruptcy. Even if they meet the 3 rules for bankruptcy, for dis-chargeable taxes … first you have to understand that taxes can be discharged in bankruptcy, but not if the IRS does a substitute return for you.

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Well guess what? There is a new 9th Circuit decision that says if the IRS does a tax return for you because you haven’t done it, and you subsequently do your tax return and file it as an original, you can then qualify to eliminate those taxes in bankruptcy. This is unbelievable.

You out there, you guys and gals out there that have gotten substitute returns and the IRS is coming after you, you better come see somebody like me so I can tell you how to set up the qualifications for eventually getting rid of those taxes in bankruptcy.

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Just call the Gartland group or go online, www.Gartlandgroup.com, and we’ll see you soon.

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Posted in Asset Protection, Blog, Estate Planning, Tax Planning