Discharging Taxes in Bankruptcy
Many taxpayer’s, including enrolled agents, accountant’s
and other taxpayer representatives, are unaware that under
certain circumstances you can discharge income taxes and certain
payroll taxes in bankruptcy.
Certain steps should be taken to ensure that all available
collection defense tactics are utilized in order to successfully
resolve the tax problem. Determining whether your tax liabilities
are dischargeable in bankruptcy is a powerful defense measure
(which I call the “Silver Bullet of Tax Defense”)
and is critical step in preparing a plan to resolve your tax
debt. For example, the availability of bankruptcy is a viable
threat during negotiations of an Offer in Compromise with the
IRS.
The filing of an Offer in Compromise and/or Bankruptcy affects
the availability of each other. It is quite common for a taxpayer
to retain this law firm after an inappropriate or premature bankruptcy
petition has been filed. Therefore, it is critical that you obtain
a written bankruptcy dischargeable opinion letter from
a qualified tax attorney or bankruptcy attorney. Contact
us if
you would like to receive a written opinion regarding the dischargeability
of your taxes in bankruptcy. |
