Dealing with Tax Debts in Bankruptcy in Southern Indiana
Taxes are a portion of the debt that many people face that can be especially difficult to work beyond. Tax debt most often has a status that protects it from discharge in the bankruptcy process. Auditors and other IRS professionals who you may encounter have very little incentive to work with tax payers to resolve difficult and confusing debt situations in part due to their ability to leverage penalties ranging from fines and property seizure to actual jail time in an effort to get you to pay your tax burden as they define it.
Richard A. Schwartz, Bankruptcy Attorney, we understand what power personal bankruptcy has in discharging tax burdens. Our firm has been using the bankruptcy code to help individuals and families for over 25 years. Our principal attorney, Richard Schwartz, has taught many seminars and continuing education courses for attorneys on this topic.
How Can Bankruptcy Help With Personal Income Taxes?
Our firm uses the power of the bankruptcy code to help individuals facing difficult tax burdens. We do not negotiate with the IRS or pursue workouts or offers in kind.
Chapter 13 bankruptcy can incorporate tax debts into the repayment plan. This will give you three to five years to repay the debt. This repayment plan can in some instances stop the running of penalties and interest on the tax debt.
Chapter 7 bankruptcy can be used to discharge some taxes. Which tax obligations would be applicable to a Chapter 7 discharge can be a complicated analysis which we will perform on an individual basis.
Contact Us
For help getting out from under debt, in Kentucky call 502-638-2441, in Indiana call 812-399-0959, and toll free in either at 866-270-4495 or simply contact us online to set up your free initial consultation with one of our New Albany or Louisville tax debt relief attorneys. Evening, weekend and in-home appointments are available for your convenience.
