Taxes are not generally dischargeable in Southgate bankruptcy.
But there are options for getting rid of tax debt using bankruptcy. You have a chance to recover your back taxes, fines, and penalties through bankruptcy if you qualify for the Southgate IRS tax debt forgiveness program. If you want to know more about this, you can call the experts at Kostopoulos Associates and Detroit Bankruptcy Law to find out if you can qualify for IRS tax debt forgiveness.
To qualify, you just have to meet these requirements to be part of 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.
In the case that you do meet these standards, you can stop creditor collection attempts by filing for Chapter 7, Chapter 11, or Chapter 13 Southgate bankruptcy. Bankruptcy creates an automatic stay on your debts, meaning that it’s illegal for creditors to try collection attempts. People that file for Southgate Chapter 7 bankruptcy tend to get their debt cleared in only 90 days after they’ve filed their lawsuit. If your full debt isn’t cleared, then the IRS tax debt forgiveness program can keep on with their collection attempts after bankruptcy.
But you can file Chapter 13 bankruptcy and consolidate those debts into one which allows you to create a payment plan for paying off your debt in manageable smaller installments.
Contact Detroit Bankruptcy Law to set up a free consultation with one of our expert attorneys!
If you have too much tax debt and you don’t know how to get rid of it, the skilled attorneys at Detroit Bankruptcy Law have an answer for you. We can use our vast knowledge of bankruptcy and many board certifications to help bankruptcy clients, all over Southeast Michigan and Southgate. To learn more about stopping tax liens, wage garnishment, and getting payroll tax deferral forgiveness, give us a call now! We’ll work on getting your Southgate tax debt forgiveness!