IRS Debt? Read this Blog!

On Behalf of | May 21, 2019 | Bankruptcy |

We’ve heard from many clients that they think that their debt to the IRS can’t be discharged in bankruptcy. Well, we are here to tell you that the IRS can be discharged, and we have helped many clients eliminate tax debt through bankruptcy. If you are facing tax debt and are thinking about bankruptcy, give you office a call for a free consultation so we can discuss your specific matter.

While this is not an all-inclusive list, below are the general parameters for eliminating your tax debt in bankruptcy:

  • A tax payer must have filed a return for the year in which the debt was created;
  • The tax return must have been filed at least two years prior to filing for bankruptcy;
  • The tax return must have been due at least three years before filing for bankruptcy; and
  • The IRS has not assessed the liability within 240 days of the bankruptcy filing date.

If you meet the above requirements, then you may be able to eliminate your tax debt through bankruptcy, a Chapter 7 or 13. Even if you cannot discharge your tax debt through bankruptcy, a bankruptcy filing may provide you some relief if the IRS is attempting to collect from you, and is garnishing your wages, bank accounts, or other assets.

Call our office today for your free bankruptcy consultation to see if we can help you. We can be contacted at 206-408-1688.

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