Tax Forgiveness & Resolution in Texas
Can tax debt be discharged through bankruptcy?
Are you eligible for tax forgiveness for back taxes owed to the Internal
Revenue Service (IRS)? Many people believe that tax debt cannot be discharged
through bankruptcy, but
that is false. Filing bankruptcy can result in back taxes, as well as interests and
penalties, being discharged. Do you qualify for tax forgiveness? Our firm
can help you determine your eligibility
In order to discharge your tax debt, you must meet the following three
- Your debt must be at least 3 years old
- Your debt must be assessed by the IRS at least 240 days prior to filing
- Your tax return relate to the debt must have been on file for at least 2 years
Provided that these factors are in place, you may be eligible to file bankruptcy
under Chapter 7, Chapter 11, and Chapter 13. In a
Chapter 7 bankruptcy filing, an "automatic stay" is enacted which immediately
stops creditor collection methods. Debt should be discharged about 90
days after the case is opened. Only after debts are discharged can the
IRS pursue collection. During the interim, you can plan for repaying any
debt that is not discharged.
Chapter 13 bankruptcy or "reorganization bankruptcy" gives you, the filer,
the time you need to repay what you owe in smaller amounts. Some debts
can be discharged through Chapter 13 as well.
Speak with a Dallas / Fort Worth Bankruptcy Lawyer
Speak with a
bankruptcy attorney for Dallas, Fort Worth, and the Mid Cities about the options suited to your situation. We can work with you find
a way to help you resolve tax liens, wage levies, and even to remove existing
tax liens. We're here to guide you through this process. Schedule a
free consultation to discuss the tax debt relief solutions available to you. We've
helped tens of thousands of clients resolve their debt, and we're ready to help you too.
Reach Allmand Law Firm, PLLC
at (214) 238-9608!