Do you have a significant amount of income tax debt? You may be able to discharge certain tax debt by filing for bankruptcy. Even if you can’t eliminate tax debt altogether, a knowledgeable bankruptcy attorney can seek to reorganize a payment plan that fits better with your financial circumstances.
At the San Diego and Riverside County, California, law firm of Chang & Diamond, APC, our San Diego bankruptcy and tax issues lawyers can inform you of your options regarding Bankruptcy and tax debt relief so that you can make a fresh financial start.
Contact the San Diego bankruptcy and tax issues lawyers at Chang & Diamond, APC, today for a free initial consultation. We can discuss your individual case and whether your tax debt is dischargeable. Rely on our team of experienced tax relief lawyers to provide you with accurate information and guidance. We are here to help and support you.
Bankruptcy and Tax Relief
Despite new bankruptcy rules enacted in 2005, people can still discharge tax debt under Chapter 7 or reorganize a payment plan under Chapter 13. Only income tax can be discharged through bankruptcy, and the taxpayer must be an individual. Generally, older taxes can be discharged while newer ones are considered to have priority and are nondischargeable. If bankruptcy is filed, there is an automatic stay placed on the IRS at the moment of filing.
However, bankruptcy tax relief is very complicated and there are many requirements that must be met. The bankruptcy attorneys at Chang & Diamond will help you every step of the way. We will review and interpret IRS tax transcripts for you and do everything we can to get the financial relief you deserve.
Some of the requirements for bankruptcy income tax relief include:
- The tax returns were filed on time or it has been two years since the tax returns were filed
- More than three years have passed since the returns were last due, including extensions
- There were no attempts to evade the tax or fraudulent actions
- Taxes were assessed at least 240 days before filing for bankruptcy
Contact Our San Diego Discharging Tax Debt Attorneys
To see if you can discharge tax debt, call on the personal bankruptcy and tax issues attorneys of Chang & Diamond, APC. Contact Us today to schedule your free initial consultation with a San Diego discharging tax debt attorney.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.