Tax Problems? Think bankruptcy will solve them? Think again! |
What many people donít know, and find out too late, is that most taxes are not discharged (forgiven) in bankruptcy. For federal taxes there are a complex set of rules that apply. Taxes must not be trust fund type, must be over three years old, filed for two years, absent fraud, etc. They can be priority, secured, unsecured, or with specific lien attachments. Joint liability, carry-back losses, innocent spouse, penalty abatement, etc. all come into play.
If you are contemplating bankruptcy, or have filed bankruptcy, you need to talk to the tax specialists at IRS Help, Inc. If your taxes are not dischargeable, you still must deal with the taxing authorities. In most cases, we can reduce or eliminate taxes that might survive bankruptcy. When is the best time to address tax problems? NOW is always best. As time passes, interest and penalties continue to accrue. Refund and claim statutes expire. Records and documentation disappear. And if you are in bankruptcy, certain options expire.
Your first consultation with the tax resolution specialists at IRS Help is free. Call our toll free number at 1-800-477-4357, or Fill out our contact us page and send us a request!