In limited circumstances, Chapter 7 bankruptcy is an effective tool for obtaining tax relief. In contrast, Chapter 7 bankruptcy will not help you deal with the following issues:
The limited tax relief bankruptcy provides is frequently disappointing to taxpayers. In addition, although a bankruptcy discharged the underlying debt, there may still be lingering issues with federal tax liens.
To determine whether bankruptcy will provide you the relief you expect regarding your unpaid tax liability, make sure you closely question your bankruptcy attorney during this phase. Taxes are one of the most complicated laws in bankruptcy, according to many bankruptcy practitioners.
In some cases, bankruptcy may be the most effective way to deal with taxes; however, it should be the last resort. If you are struggling with a tax liability and do not want to damage your credit, there are a number of other options short of bankruptcy that can help.
Since the IRS Trouble Solvers was founded in 1991, many tax cases have been successfully resolved without the need to file bankruptcy. In order to build upon its history of success, IRS Trouble Solvers Seattle has developed programs that provide clients with an alternative to bankruptcy.
Consider other options rather than bankruptcy if you are considering filing for tax relief. Whether you were already bankrupt and still have an unpaid liability due to the IRS, call us. Your BEST bet to resolve your IRS Debt!®