BANKRUPTCY ISSUES - TAX PROBLEMS

EXPERIENCED ORLANDO AND CENTRAL FLORIDA BANKRUPTCY AND BANKRUTCY RELATED TAX ISSUES LEGAL REPRESENTATION

Call Us Now 407.481.2888

When you file for a personal bankruptcy and back taxes are owed, make no mistake about it, the IRS wants their money.

Fortunately under the current bankruptcy laws, certain taxes and back-taxes may be discharged, or excused by the bankruptcy court as part of the bankruptcy process.

The only type of taxes that are eligible to be discharged or excused in a personal bankruptcy are personal income taxes. Tax debt from unpaid payroll taxes and federal excise "trust" taxes that are collected by employers on behalf of the IRS-are never dischargeable.

Tax debt from unpaid personal income tax must meet a five-requirement threshold before they can be considered for IRS discharge in bankruptcy:

The IRS tax assessment, which could have come from an IRS audit, a reported balance due, or a proposed assessment that has finalized, must have been completed more than 240 days before the bankruptcy filing. Note that certain events can "toll," or suspend, the 240-day time period.

We are extremely detailed in our preparation regarding your bankruptcy, provide a comprehensive approach in seeking a successful bankruptcy, and guide you through this difficult process with the dignity and respect you deserve.

There may be many other Bankruptcy issues that may have to be addressed, depending upon your unique circumstances and how the bankruptcy laws apply to your current situation.

Contact an experienced Bankruptcy Attorney (lawyer) at the Budgen Law today to schedule a free and confidential legal consultation.

Call Us Now 407.481.2888

Orlando Bankruptcy Lawyer, providing experienced Bankruptcy and Tax Issues Attorney legal Services in Orlando, Longwood, Maitland, Orange County, Seminole County and the surrounding Central Florida areas.

BUDGEN LAW
640 East State Road 434,
Suite 3000
Longwood, FL 32750
Phone: 407.481.2888
Fax: 407.313.1119

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