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Should I Inform My Tax Preparer About My Bankruptcy Case?

When filing taxes, it is important to be honest and transparent with your tax preparer. This includes discussing any current or past bankruptcy cases. Filing for bankruptcy can have many repercussions on your taxes, so it is essential to inform your tax preparer if you have a pending case.

Bankruptcy can affect the amount of taxable income for both individuals and businesses. It may also impact other factors such as deductions and credits that may be available to you. In some cases, debts discharged through a bankruptcy case may still need to be reported as income on tax returns. Your tax preparer will need this information in order to accurately assess your return and ensure that all applicable rules are followed correctly.

It can be intimidating to tell someone about a difficult financial situation like bankruptcy, but it is necessary in order for them to provide the best advice possible when filing taxes.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is to help you can find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706


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