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Taxes are not usually dischargeable in bankruptcy.

However, if there is a way for your situation, then Detroit Bankruptcy Law will find one. By filing for bankruptcy Southfield, there is a chance to get your fines, back taxes, and interest back. You do have to meet certain requirements established by the IRS tax debt forgiveness program. Ask the professionals at Kostopoulos Associates if you qualify.

Here are the requirements to qualify for IRS tax forgiveness Southfield:

  1. Tax debts need to be reviewed by the IRS at least 240 days before filing for bankruptcy.
  2. Your tax returns regarding the debt must be on file for at least two years.
  3. The debt forgiveness tax you owe the IRS must be at least three years old.

Should you meet these requirements, then your IRS tax debt could be forgiven if you file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy Southfield. This will also stop creditors from trying to collect your debts. In most cases, our clients have had their tax debts discharged within only 90 days of filing. If your entire tax debt is not dismissed, then the IRS tax forgiveness program can continue with collection attempts once your bankruptcy ends.

Bankruptcy will activate an automatic stay to protect you, and in Chapter 13 bankruptcy you can set up a payment plan that allows you to pay off debt in smaller installments. You may even have your debt dismissed in Chapter 13 bankruptcy Southfield.

Contact Detroit Bankruptcy Law to schedule a free consultation

For decades, people throughout Southeast Michigan and Metro Detroit have come to Detroit Bankruptcy Law for help in filing bankruptcy. With our wide range of bankruptcy experience, we know exactly how to work through the bankruptcy proceedings for the best results our clients can get. To learn more about how bankruptcy can get you tax debt forgiveness, get in touch today and we’ll set up a free consultation!