Statesville, North Carolina Tax Debt Relief
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Under bankruptcy laws in the United States, it's possible to wipe out income tax debt, sales tax debt, and payroll tax debt. Under both Chapter 7 and Chapter 13 bankruptcy, tax debt that is at least 3 years old may be discharged depending on the value of your current assets and what kind of tax debt is involved. Discharging tax debt can be complicated since a number of factors involving the IRS must also be considered. At the Law Offices of Robert G. LaMontagne, we consult accountants and tax experts in helping people discharge tax debt through bankruptcy.
If you owe the Internal Revenue Service money due to unpaid tax debt, contact bankruptcy lawyer Robert G. LaMontagne today to schedule a free consultation to learn how we can help you.
How do I know if My Tax Debt can be Discharged through Bankruptcy?
While there may be other considerations, in general, tax debt can be discharged through bankruptcy if the following conditions are met:
- Your tax debt is at least three years old
- The tax debt in question is related to a return filed at least two years before your filed for bankruptcy
- Your tax debt must be assessed by the IRS 24 months before you file for bankruptcy. In essence, this involves acknowledgement of your debt on the part of the IRS.
- You cannot be guilty of tax evasion
- The tax debt in question cannot be part of a fraudulent tax return
Tax Debt and the Bankruptcy Court
If your tax debt meets the conditions listed above, you will also be required to prove that you filed a tax return for each of the last four years prior to your filing for bankruptcy. Additionally, if your creditors request a copy of your most recent tax return when they meet to discuss your bankruptcy, a copy must be provided to them as well.
Additional Issues in Discharging Tax Debt through Bankruptcy
If your tax debt is eligible for discharge, you must also prove that you have filed tax returns each of the last four years. The bankruptcy court will also need a copy of your most recent tax return. If, when your creditors meet to discuss your bankruptcy petition, some or all decide they want a copy of your tax return, you must provide them with a copy as well.
Get started today with Chapter 7 Bankruptcy for $299; Chapter 13 for $279
Contact Bankruptcy Attorney Robert G. LaMontagne Today
Discharging tax debt can be complicated. Consulting with an experienced lawyer can help you avoid unnecessary complications and delays. To learn more about discharging tax debt through Chapter 7 or Chapter 13 bankruptcy, contact bankruptcy attorney Robert G. LaMontagne today.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
