Taxes are not generally dischargeable in Southfield bankruptcy.
They can be discharged in some situations, though. If you happen to qualify for IRS tax forgiveness, then bankruptcy will get you your back taxes, fines, and penalties back. Come to the experienced lawyers at Kostopoulos Associates to find out if you qualify for IRS tax debt forgiveness.
By meeting these three standards, you’ll qualify for the IRS tax debt forgiveness program:
- Tax debts have to be reviewed by the IRS at least 240 days before filing for bankruptcy.
- Your tax returns for the debt must be on file for more than two years.
- The debt forgiveness tax you owe the IRS has to be at least three years old.
Assuming you meet those standards, you can file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy to stop creditor collection attempts. This is due to the automatic stay activated by bankruptcy causing collection attempts to be illegal. In Chapter 7 bankruptcy Southfield, most people’s debt is cleared completely within just 90 days of filing. If you happen to have debts that aren’t dismissed, the IRS tax forgiveness program can continue pursuing them after your bankruptcy period ends.
Even if you don’t get all of your debts forgiven, Chapter 13 bankruptcy allows you to create a payment plan to reasonably pay off your remaining debt.
Contact Detroit Bankruptcy Law to set up a free consultation with one of our expert attorneys!
If you need help in getting tax debt forgiven, come to the experts at Detroit Bankruptcy Law. With our many board certifications and our deep experience in bankruptcy, we have helped clients all over Southeast Michigan. We want to help you too, by stopping tax liens and wage garnishment, then getting you payroll tax deferral forgiveness. Call us now so we can get started on getting your tax debt forgiven!