Filing for bankruptcy can automatically halt the accumulation of interest and penalty fees on past due federal and state income taxes. More importantly, tax debts over three years old can be completely discharged through bankruptcy. If you have past due tax debts and other unmanageable debts, filing for bankruptcy may be your best option for obtaining debt relief.
At the Bankruptcy Law Offices of Stephen Johnson, we are experienced bankruptcy attorneys. We can review your situation and explain your options in a free consultation. By filing for you, we may be able to obtain an immediate stop to tax foreclosures and obtain a discharge of many past due tax debts.
Our firm has been helping people obtain debt relief through Chapter 7 and Chapter 13 Bankruptcy filings for over 30 years. Many of these cases have included the complete discharge of taxes.
As soon as we file bankruptcy for you, interest and penalties on past due income taxes stop accumulating. We will work to discharge as much tax debt as possible. Any non-dischargeable taxes can be rolled into a repayment plan negotiated directly with the IRS, or repaid through a Chapter 13 plan immediately following your Chapter 7 discharge - giving you the opportunity to rebuild your financial strength.
When discharging tax debt through bankruptcy, timing is critical. Filing for bankruptcy just a few days earlier or later can cost you tens of thousands of dollars in tax debts for a given year - or enable you to obtain a complete discharge of those debts.
If you have outstanding tax debts that are not dischargeable through bankruptcy, there may be another option open to you. If a tax authority is convinced it cannot obtain full payment of taxes, it can sometimes be persuaded to discharge a portion of those taxes through an offer-in-compromise.
The Bankruptcy Law Offices of Stephen Johnson has successfully negotiated numerous offers-in-compromise with the IRS and the California State Franchise Tax Board. A lawyer at our firm can review your situation and recommend the right solution for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
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