Providing Bankruptcy And Taxation Assistance

Are you behind on filing your taxes because you know it is a bill you simply cannot pay? Call on the firm of Roy Petty & Associates, to help you sort out matters with the IRS and get back to living your normal life through bankruptcy filing.  Whether you are delinquent on your personal income tax obligations or you have overdue business taxes, we may be able to help you find a solution.

Bankruptcy And The Discharge Of Tax Liabilities

Not all taxes are dischargeable in bankruptcy. However, there are some circumstances under which tax debt can be discharged. When you visit our office to discuss your tax-related debt matter, we will look at the circumstances of your debt and advise you on ways to proceed in certain matters such as unfiled taxes. Once we have a clear picture, we can determine whether your tax debt can be included in your Chapter 7 or Chapter 13 bankruptcy filing.

In general, however, tax debt is dischargeable through bankruptcy if you meet the following conditions:

  • The unpaid taxes in question must be related to a tax return that is at least three years old.
  • The tax debt in question is related to a return filed at least two years ago.
  • You have not been charged with or convicted for tax evasion.
  • The tax debt in question cannot be part of a fraudulent tax return.
  • The IRS must assess your tax debt at least 240 days prior to your filing for bankruptcy.
  • Taxes owed for businesses, such as unpaid sales tax or unpaid federal or state unemployment tax (FUTA or SUTA) are not dischargeable in bankruptcy.

Paying Back Taxes Through Bankruptcy

One common way deal with back taxes is through bankruptcy. Chapter 13 bankruptcy allows people to repay tax arrears through the repayment plan while avoiding penalties and interest.

Letting Our Attorneys Help Your Family Out

Sometimes, when people face financial hardships and everything seems to be getting worse, ignoring a problem may appear to be the easiest answer.  Contact Roy Petty & Associates today to schedule an initial consultation to talk about bankruptcy, and taxes or unfiled or unpaid tax issues. Getting good legal advice should never be unattainable. Talk to us about your situation. We will work to help you find an answer.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.