Some Taxes Can Be Discharged Through Bankruptcy
Tax debt is among the worst kind of debt. With interest and penalties, the amount you owe can double in a few years. The IRS also has many tools and tactics to recover tax arrears, including liens against your bank accounts and property.
Many people believe that tax debt is not dischargeable in bankruptcy, and some lawyers reinforce that notion. The David F. Cannon law firm in Nashville has helped many individuals and small businesses in Middle Tennessee shed back taxes or restructure tax debt through bankruptcy. Contact us to learn if you qualify to discharge your unpaid income taxes.
Nashville Lawyer for Dischargeable Taxes in Bankruptcy
Under the right circumstances, income taxes can be discharged (eliminated) in a Chapter 7 bankruptcy.
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The taxes must be at least years old.
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You must have filed a tax return.
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Other criteria also apply in determining whether your debt to the IRS or the Tennessee Department of Revenue is eligible for bankruptcy discharge.
If you do not qualify for Chapter 7 or if your taxes are not eligible for discharge, you can still obtain tax debt relief. A Chapter 13 bankruptcy allows you to spread tax arrears over several years without additional penalties and interest.
Eliminating Tax Debt In Bankruptcy · Tennessee Attorney
David F. Cannon is certified as a Consumer Bankruptcy Specialist by The American Board of Certification and The Tennessee Commission on Continuing Legal Education and Specialization. He can advise on all of your dischargeable debts, including any unpaid taxes.
Call 615-800-3725, toll free at 877-696-8680, or e-mail our law office today to arrange a confidential consultation.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
