CAN I DISCHARGE INCOME TAX BY FILING FOR BANKRUPTCY?
April 9, 2015
Did you know that some income taxes are dischargeable in bankruptcy?
Here’s the deal:
Yes, it is very difficult to discharge income taxes in bankruptcy but it is possible. If you find yourself with overwhelming tax debt, you should contact us as soon as possible to devise a plan to deal with this tax debt.
Trust us when we say:
You do not want to ignore the IRS. They are very nasty when they start collections activity, including garnishing most of your income. They don’t just take 10% of gross, but nearly all of your income. They can take your retirement. They can even take your home.
Some people seeking to avoid bankruptcy have turned to national tax relief companies. You may have seen their ads: “If you have tax debt of $10,000 or more, call us today and we can stop the IRS today.”
Sounds good, right?
However, stopping the IRS today does not mean you have stopped them tomorrow. And your tax problems tomorrow will be worse than they were before. Then, when you need the company’s help again, they have suddenly stopped taking your calls.
What you really need is someone who will look at your entire financial situation and devise a plan to deal with the IRS, NYS and all your other creditors. You need help from someone who can not only be at your side when you meet with the IRS, but can offer a bankruptcy solution if that is needed to help clear up your debt problem. A reputable attorney provides this support, while national debt relief companies cannot.
Schedule your appointment today. We can help you with your tax debts and more.