IRS Tax Resolution

Obtaining Tax Relief through a Bankruptcy Filing

If you are experiencing a time of great financial distress, one of the possible debts you may find yourself saddled with is money owed to the Internal Revenue Service.  While in some cases, relief from tax debt is not obtainable through a bankruptcy discharge, there are several scenarios which permit for this.  It is important to obtain an immediate consultation from a Glendale bankruptcy attorney who can explore your financial situation and help you determine all options available to you for eliminating your tax burden.

For obvious reasons, the IRS does not like to make widely known that some tax liabilities may be discharged through bankruptcy proceedings.  Your attorney can help you better understand whether your back taxes, interest and penalty obligations qualify.  Several important considerations should be taken into mind when exploring bankruptcy as an option for tax relief:

• In order to qualify, a tax liability must be at least 3 years old, as determined from the return's due date and including extensions
• Eligible tax returns must have been filed at least 2 years prior to a bankruptcy filing
• At least 8 months must pass from the date of assessment.
• Federal tax liens are generally not dischargeable, even if the related tax debt has been released

Recent changes to bankruptcy law by the U.S. Congress included several adjustments  which directly address tax debts.  It is critical for your legal team to have a clear understanding of the law so that your discharge-eligible tax liability does not unduly survive a bankruptcy filing.

Bankruptcy Attorney in Glendale

At Ray Bulaon Law Offices, our team understands the difficult times you are faced with.  Our firm has successfully guided thousands of clients through bankruptcy and debt resolution since 2001 and we can provide you with a clear and realistic appraisal of your individual case so that you are well aware of what to expect and what steps are recommended.  Dedicated to communicative and personal service, you can always trust our attorneys to represent your best interests fully.

If you have questions about eliminating tax debt through a bankruptcy, contact a Glendale Bankruptcy Lawyer today.