Many people facing overwhelming debt are aware that debts like student loans are not dischargeable through bankruptcy. Unfortunately, many also believe that IRS taxes are not dischargeable in bankruptcy.
Bankruptcy however, can reduce and even eliminate IRS taxes. Examples of how you may be able to use bankruptcy to reduce your debt include:
- Through a Chapter 7 bankruptcy, you may be allowed to discharge all your income taxes due to the IRS while retaining your property.
- Through a Chapter 13 bankruptcy, you may be able to stop the accrual of interest and penalties. One hundred percent of future payments can then go toward the principal of your debt.
Skilled Attorney Handling Both Tax And Bankruptcy Issues
Often, individuals and businesses facing debt issues hire a lawyer to handle their tax issues and a bankruptcy lawyer to handle their bankruptcy.
Tax attorney Gerard J. Levins of Levins Tax Law, LLC, can work to resolve your tax controversies and tax disputes while also acting as your bankruptcy lawyer. The efficiency of our "one stop" service reduces costs, lessens confusion and saves time while your debts are either discharged or reduced.
Handling The Complex Issues That Tax And Bankruptcy Law Involves
There are numerous deadlines for filing petitions as they relate to tax assessments and other processes and events. We can fully handle your legal process while having reduced and eliminated tax liabilities for doctors, lawyers, business owners, wage earners and others. For more information and to schedule a no-obligation confidential consultation regarding a tax bankruptcy discharge, contact our firm.
Levins Tax Law, LLC, understands how to reduce taxes through the bankruptcy process. For a no-obligation and confidential free consultation, contact our law firm by calling 888-333-9501. We accept MasterCard, American Express, and Visa. We also have offices in both Boston and Framingham, Massachusetts.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.