Tax Debts

Are you burdened by taxes you can’t afford to pay? Before you spend another day worrying about the possibility of tax liens, you owe it to yourself to explore your options. As a Waco bankruptcy lawyer and Killeen bankruptcy lawyer, I can help you determine which option will help you obtain the greatest relief from your tax debt.

In some cases, Chapter 7 bankruptcy is the best option. If you owe federal taxes that were due more than three years ago, and the returns were filed more than two years ago, and the taxes were assessed more than 240 days before your bankruptcy case is filed, those taxes are dischargeable in a Chapter 7 case.

If, however, your taxes can’t be discharged in a Chapter 7 case, Chapter 13 bankruptcy might be a better option. This type of bankruptcy allows you to pay off your tax debt, usually interest free and penalty free, over a three to five year period. Your assets such as your home and car are protected, as long as you continue making payments on these assets.

Bankruptcy and tax laws are quite complex, and most people would be ill-advised to handle tax debt on their own. I’ve handled hundreds of bankruptcy cases involving tax debt. I can use my experience to help you successfully resolve your debt.

Before you attempt to handle tax debt, give me a call. I’d be happy to review your situation, and propose a solution that will meet your needs!