Is There a Way Tax Debt Can be Discharged in Bankruptcy?

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When you work with bankruptcy lawyers in Houston, one of the first things you may ask has to do with what happens to your tax debt. There is no standard answer, since every situation is unique. However, when you work with the best Texas bankruptcy lawyers, you’ll have a better chance of getting your tax debt discharged, or having your payments reduced at the very least. Some of the main factors that contribute to how much tax relief is available to you include: How old your tax debt is Whether you are filing Chapter 7 or Chapter 13 bankruptcy The...

31 July

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Erase Tax Debts by Filing for Bankruptcy

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in Bankruptcy, IRS Tax

When filing for bankruptcy in Texas, the most difficult type of debt to erase is tax debt. However, even though the common misconception is it’s impossible to wipe away your back taxes, you actually may be able to reduce a significant amount of debt. Dealing with the IRS is tricky and requires a tax attorney to be on your side. There are many different factors that go into erasing tax debt, and you must follow certain requirements to even be in consideration. Here are the main things you need to know about erasing tax debt through filing for bankruptcy. Basic Requirements to...