Select Your Language
Get Help Today: 800-930-3159
Get Tax Relief Today!
- Settle Your Tax Debt for a Fraction of What You Owe
- Stop Garnishments and Waive Penalties
- Work with an Experienced Tax Attorney
Bankruptcy and Tax Debt
Can I Discharge Tax Debt with Bankruptcy?
Filing Bankruptcy is an alternative to an Offer In Compromise agreement. Taxpayers should carefully consider all options when deciding how to deal with tax debt. Consider the following if you are thinking about dealing with Tax Debt in Bankruptcy:
- The Pros:
- Bankruptcy is often your best chance to resolve seriously delinquent tax debts that meet specific requirements. This is primarily due to the fact that if the requirements are met then the taxes are simply discharged in the bankruptcy.
- Tax Claims
- Interest on the discharged taxes is also discharged
- Tax Penalties are not considered priority claims in bankruptcy
- The Cons:
- If the five requirements are not met then the taxes must be paid in full
- The taxes may be required to be included in the bankruptcy
Filing Bankruptcy is not a viable option for many taxpayers, if you need to discuss your tax situation please fill out our Free evaluation.
- IRS Settlement
- IRS Processing Policy
- Determine Eligibility
- Terms and Definitions
- Tax Articles
- OIC Blog
Negotiating An Offer in Compromise In North Carolina
All taxpayers who have outstanding tax debt may be able to find relief through Offer in Compromise, ...
Offer in Compromise For New Hampshire Taxpayers
Offer in Compromise is a tax settlement option which taxpayers can use to settle outstanding tax deb...
Qualifying For An Offer In Compromise In Kentucky
Kentucky taxpayers who owe IRS back taxes may have the opportunity to settle their tax debt for a fr...
Tax eyed to clean up abandoned properties - Tbo.com - 7/31/2010
My father was taking Rahul's side: Dimpy - Times of India - 7/31/2010
Frank M. Burke Jr.: Tax adviser, investor shared through philanthropy, helped ... - Texas Cable News - 7/31/2010
Harassed by hubby, distressed by dad: Dimpy - Times of India - 7/31/2010
Parties at odds over how to replace funds if they repeal tax law - Bend Bulletin - 7/31/2010
U.S. Had Long Suspected Billionaire Brothers of Evading Taxes - Sarasota Herald-Tribune - 7/31/2010
=== More Tax News ===