It is a common myth that bankruptcy will not eliminate your tax liability when, in fact, the Bankruptcy Code provides many individuals with some form of income tax relief. The extent of tax relief will differ for each person and is dependent on the nature of the tax liability and the type of bankruptcy filing.
If you are considering filing for bankruptcy and are curious about the tax implications,contact a Bellevue bankruptcy and taxes attorney or call 425-283-0432 for a free initial consultation. From our offices in Bellevue, Washington, we help individuals and families throughout the Bellevue metro region.
In general, tax liabilities cannot be discharged through bankruptcy, but there are some instances where you may able to have your tax debt discharged. At CBG Law Group, PLLC, we can meet with you and help determine whether your tax debts can be discharged through Chapter 7 bankruptcy, Chapter 13 bankruptcy or Chapter 11 bankruptcy. Tax debt may be eligible for discharge if:
In addition to the burden of tax debt, unpaid taxes may lead the IRS to assess you monetary penalties. An experienced tax attorney can review your situation to see if it is possible to reduce or eliminate any outstanding penalties related to unpaid taxes.
To find out if your tax debt can be discharged through bankruptcy, contact a Washington State tax relief lawyer or call us at 425-283-0432 for a free initial consultation. We work alongside our clients and provide a personal level of service that you will not find at most law firms.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.