The Bankruptcy Petition Form B 1: Fill & Download for Free

Tax debts are dischargeable in American bankruptcy courts, but only under certain limited circumstances.The short version is that a debtor can get a discharge under Chapter 7 of the Bankruptcy Code, but only if:(a) The taxes are owed on income, [1](b) The tax return was due, counting all legally permissible extensions, at least three years before the debtor filed his or her bankruptcy petition,(c) The tax return must have actually have been filed at least two years before the debtor filed his or her bankruptcy petition,(d) The taxing authority - the IRS or the state taxation agency - must have assessed the tax against the debtor at least 240 days before the debtor filed his or her bankruptcy petition, and(e) The debtor did not commit fraud or willfully attempt to evade paying taxes legally owed. [2]A debtor must meet all five criteria to qualify for a discharge. [3] [4][1] Income taxes only. Payroll & other taxes do not count. If a taxing authority slaps a prepetition tax lien on a debtor's real or personal property, that lien remains in place after the debtor receives a discharge.[2] 11 USC secs 507(a) & 523(a)(1).[3] Eliminating Tax Debts in Bankruptcy: nolo.com/legal-encyclopedia/bankruptcy-tax-debts-eliminating-29550.html[4] This answer is not legal advice. If you're reading it for any reason other than curiosity, then you need to consult an attorney. No attorney-client relationship here.

Hi. Thanks for A2A'g me.The answer to your question, if you are referring to a receivership in the US, is: the company may well be insolvent, but when a company "enters receivership", it is not filing (or being filed into) Bankruptcy.A receiver is appointed in the US by a federal or state court Order. There are two basic types of receiverships: (1) a general (or liquidating) receivership, and (2) a special (or limited) receivership. In a general receivership, the receiver acts and has powers similar to a trustee in bankruptcy, in that the receiver controls the assets of the debtor and operates the assets with the intent to either sell the assets as a going concern or liquidate the assets of the debtor and disburse the proceeds to creditors, according to the priority of their interests. In a special or limited receivership, the receiver only takes possession of designated assets of the debtor and operates and/or sells only those assets, leaving the rest of the debtor's assets in the receiver's possession.The Bankruptcy law in the US expressly:(1) prohibits the appointment of a receiver by a Bankuptcy Court, and(2) if a receiver or other custodian with respect to a debtor or its property was appointed prior to the commencement of a Bankruptcy, such receiver, upon obtaining knowledge of the commencement of the Bankruptcy case:(I) may not make any disbursement from, or take any action in the administration of, property of the debtor, proceeds, product, offspring, rents, or profits of such property, or property of the estate, in the possession, custody, or control of such custodian, except such action as is necessary to preserve such property; and(ii) must (A) deliver to the trustee or the debtor in possession (if the Bankruptcy case is a Chapter 11 case, and no trustee has been appointed by the Bankruptcy Court in the case), any property of the debtor held by or transferred to such custodian, or proceeds, product, offspring, rents, or profits of such property, that is in such custodian’s possession, custody, or control on the date that such custodian acquires knowledge of the commencement of the case; and (B) file an accounting of any property of the debtor, or proceeds, product, offspring, rents, or profits of such property, that, at any time, came into the possession, custody, or control of such custodian, unless(III) the Bankruptcy Court, after notice and hearing, excuses compliance with the above requirements if the interests of creditors and, if the debtor is not insolvent, of equity security holders would be better served by permitting a custodian to continue in possession, custody, or control of such property.As to the difference between insolvency and Bankruptcy in the US:Insolvency can mean many things depending on the context and applicable law under which this is being determined, but generally, it refers to one of two different scenarios: (1) the total of the debts or potential debts owed by the person or entity (a business; a governmental unit; etc.) exceeds the total value of their assets, or (2) where the person or entity is not able to meet his or her/its obligations, or pay their debts as the debts become due (which may occur even when the total assets exceeds the total liabilities).Insolvency describes one's financial condition at a certain point in time. There is no court proceeding or case, solely because of, or as a result of, insolvency.Further, “[m]ere [technical] insolvency does not afford enough ground for lenders to petition for involuntary bankruptcy of the borrower, or force a liquidation of his or her assets.”Bankruptcy is a legal case in a federal Bankruptcy Court. Bankruptcy can be commenced either voluntarily by the person or entity, or involuntarily against the person or entity by his/her/their/its creditors, by the filing (either online or in person) of a petition for Bankruptcy in a federal Bankruptcy Court.An involuntary Bankruptcy case may only be filed against a person or entity under Chapter 7 or Chapter 11.Therefore, there can't be an involuntary Chapter 13 Bankruptcy case filed to require an individual to repay all or a portion of his or her debt; an involuntary Chapter 9 Bankruptcy case filed against a municipality; an involuntary Chapter 12 Bankruptcy case against a family farmer or fisherman; or an involuntary Chapter 15 Bankruptcy case for recognition of a judicial or administrative proceeding in a foreign country, including an interim proceeding under a law relating to insolvency or adjustment of debt in which the assets and affairs of the debtor are subject to control or supervision by a foreign court, for the purpose of reorganization or liquidation.Further, an involuntary Bankruptcy case can’t be commenced against a farmer, family farmer, or a corporation that is not a moneyed, business, or commercial corporation.A Bankruptcy case can be commenced even when a person or entity is not insolvent within one or both of the definitions set forth above.When the case is commenced voluntarily, the person or entity is in Bankruptcy upon the filing of the Bankruptcy petition, and the Bankruptcy case can't be dismissed without an Order of the Bankruptcy Court.When the case is commenced involuntarily by the creditors against a person or entity, the person or entity is given time to answer and contest the Bankruptcy petition, and argue that he/she/it should not be forced into Bankruptcy. The Bankruptcy Court may then hear arguments and even conduct evidentiary hearings in order to determine whether the Bankruptcy should go forward in the facts and circumstances of the case, under certain criteria set forth in the Bankruptcy law and caselaw, and other considerations as to what is in the best interests of the debtor and his/her/their/its creditors. During the time between when the involuntary Bankruptcy petition is filed and the Court’s decision as to whether there will be an Order for relief in Bankruptcy against the person or entity, the person or entity is given the protections of Bankruptcy (such as the automatic stay against creditor actions to collect on claims), but the person or entity may continue to operate its business, and to use, acquire, or dispose of property, the same as if an involuntary case had not been commenced, unless otherwise ordered by the Bankruptcy Court, on request of a party in interest, after notice to the debtor and a hearing, where the Bankruptcy Court determines that it is necessary to appoint a trustee to operate the business and to take possession of the property, in order to preserve the property or to prevent loss, during the interim period until the time that the Court can decide whether the Bankruptcy should proceed.

For child support, the simple answer is no; but it’s a bit more complicated when it comes to taxes.For income taxes, the primary statute is 11 USC 523, section (a), subsection (1):“A discharge under section 727, 1141, 1228(a), 1228(b), or 1328(b) of this title does not discharge an individual debtor from any debt—(1) for a tax or a customs duty—(A) of the kind and for the periods specified in section 507(a)(3) or 507(a)(8) of this title, whether or not a claim for such tax was filed or allowed;(B) with respect to which a return, or equivalent report or notice, if required—(i) was not filed or given; or(ii) was filed or given after the date on which such return, report, or notice was last due, under applicable law or under any extension, and after two years before the date of the filing of the petition; or(C) with respect to which the debtor made a fraudulent return or willfully attempted in any manner to evade or defeat such tax.”Now, section 507(a)(3) applies only to involuntary bankruptcy cases, but 507(a)(8) deals with taxes and is quite lengthy. You should consult a lawyer to discuss your particular situation as to those details.If you owe (at the time the bankruptcy was filed) a tax or other government ‘debt’ of the kinds listed in 507(a)(8), it is not discharged unless: (i) you filed the required return, (ii) on or before the last day the return was last due and more than two years before the bankruptcy was filed.Believe it or not, that’s the ‘simple’ version of what taxes might be discharged in a bankruptcy. The full analysis takes more time and requires more information. But, that’s a simple answer to “Does filing bankruptcy cover IRS and child support?”