When you file for a personal bankruptcy and back taxes are owed, make no mistake about it, the IRS and the State want their money.
Fortunately, under the current bankruptcy laws, certain taxes and back-taxes may be discharged, or excused by the bankruptcy court as part of the bankruptcy process.
The only type of taxes that are eligible to be discharged or excused in a personal bankruptcy are personal income taxes. Business tax debt from unpaid payroll taxes and federal and state withholding or "trust fund" taxes that are collected by employers on behalf of the IRS or State are never dischargeable.
Tax debt from unpaid personal income tax must meet a five-requirement threshold before they can be considered for IRS discharge in bankruptcy:
We are extremely detailed in our preparation regarding your bankruptcy, provide a comprehensive approach in seeking a successful bankruptcy, and guide you through this difficult process with the dignity and respect you deserve.
Brian Hizer and Edward Schimmel have the experience and resources to effectively guide you through the bankruptcy legal process. We always strive to provide the highest standard of legal representation to aggressively pursue your bankruptcy legal goals.
If you require experienced legal advice and representation from a qualified Bankruptcy Law attorney (lawyer), please call our offices to schedule a confidential legal consultation.