A Simple Method for Dealing with Your Back IRS Income Taxes

The bankruptcy law may provide you with several options to deal with back taxes.

First, if the taxes that you owe are more than three years old, you may not have to pay them back at all and can get rid of them by filing for bankruptcy. There are four rules to apply to see if your back income tax is dischargeable.

If you can’t discharge your back taxes in bankruptcy, another option is to do a “loan consolidation” type of bankruptcy called a Chapter 13 bankruptcy.

You can get up to 60 months to pay the taxes that you can’t get rid of and set up payments that are affordable. That buys you the time that you need to make payments, isn’t that better than having the IRS seizure your stuff, place a levy on your bank account or even garnish your wages?

Of course, each case is different and at the law offices of Sunshine State Bankruptcy, we can help educate you about your options. Call now for a free consultation at 727.258.4999.

2 Responses to “A Simple Method for Dealing with Your Back IRS Income Taxes”

  1. Karen pitisci says:

    I am recently in chap13 to keep my house . That is not a problem , however, the IRS wants to be included in the plan , which I am now consulting with Dave w. To negotiate . A settlement . I am running out of time and IRS is not waiting . My attorney now says running out of time and full amount of 32,000 will be added. Karen pitisci

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