GET RID OF TAXES IN BANKRUPTCY

YOU CAN GET RID OF IRS TAXES IN BANKRUPTCY

GET RID OF IRS TAXES IN BANKRUPTCY

You can discharge certain personal income taxes in Bankruptcy!

If you are unable to pay your overdue personal income taxes, are struggling to make ends meet to avoid garnishment from the government, bankruptcy may help you get rid of those taxes.

Other taxes such as excise, sales and other fiduciary taxes are non-dischargeable in bankruptcy. Although technical, discharging personal income taxes in bankruptcy is possible. Here are the requirements.

5 REQUIREMENTS FOR DISCHARGING PERSONAL INCOME TAXES IN BANKRUPTCY

TWO YEAR RULE: The tax return or equivalent report was filed or given at least more than two years before the filing of the bankruptcy petition. 11 U.S.C. 523(a)(1)(B);

THREE YEAR RULE: The most recent due date of the return is more than three years prior to the filing of the bankruptcy petition. 11 U.S.C. 507(a)(8)(A)(i);

240 DAY RULE: The tax was assessed more than 240 days prior to the filing of the bankruptcy petition plus 30 days. 11 U.S.C. 507(a)(8)(A)(ii)

Does not include time that an Offer in Compromise was pending or in effect during that 240 day period plus 30 days. 11 U.S.C. 507(a)(8)(A)(ii)(I)

Does not include any time during which a stay of proceedings against collections was in effect in a prior bankruptcy case during that 240 day period plus 90 days. 11 U.S.C. 507(a)(8)(A)(ii)(II)

NON-FRAUDULENT RULE: The tax return was non-fraudulent. 11 U.S.C. 523(a)(1)(C)

NO ATTEMPT TO EVADE OF DEFEAT THE TAX: The taxpayer is not guilty of a willful attempt to evade or defeat the tax. 11 U.S.C. 523(a)(1)(C)

ARE TAX LIENS DISCHARGEABLE IN BANKRUPTCY?

Get Rid of Taxes in BankruptcyEven if you meet the five rules above to get rid of your personal liability on those personal income taxes, if there is a federal tax lien perfected on your property, the lien remains.

However if the lien was not perfected, then it may be voidable.

WHAT TO DO BEFORE SCHEDULING YOUR
TAX DISCHARGE BANKRUPTCY CONSULTATION

Call the Internal Revenue Service at 800-829-1040 and request an “Account Transcript” for each tax year there is a balance. The I.R.S. does not charge for this.

Please note an “account transcript” is a special transcript filled with I.R.S. codes. You do not need a copy of your actual return nor do you need any other type of transcript.

Once you have your account transcript(s), take the next step by Scheduling
Your TAX DISCHARGE BANKRUPTCY CONSULTATION.

IRS CIRCULAR 230 DISCLOSURE: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. Federal Tax advice contained in this communication (including any attachments) is not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to another party any transaction or matter addressed herein.

PERSONAL STATEMENT FROM ATTORNEY NEIL E. COLMENARES

Testimony

"Upon my first contact with Atty. Neil I felt at ease with talking to him about my having to file for bankruptcy. He was very professional and personable and explained everything in detail what I would have to do. As such, I returned to him with all my records and data in order. Afterwards he explained the next processes that I would have to follow. Because I was fully prepared his job to present it to the court was prudent and expeditious. As a result, my case was completely settled in less than three months. Neil is a man of his word and action and I certainly would recommend him to anyone in need of legal service, but with a word of advice, I would recommend that you should be prepared to do whatever he requests in order to expedite your case."
Judy W.
"When the housing market tanked and i got laid off I needed help with a short sale of my home. Mr. Colmenares was recommended to me by a co-worker. Mr. Colmenares made the process as painless and smooth as possible. I highly recommend Mr. Colmenares to anyone who is in the same position as I once was. If your looking for a pro on your side, look no further."
Steve W.
"Neil's a very reasonably priced lawyer. Handled my case promptly and professionally. Couldn't ask for better results. Saved me thousands of dollars and avoided costly lawsuits. Will definitely use Mr. Colmenares for future legal needs."
Emaan O.
"The best attorney I have ever dealt with. He made me feel good about going to see an attorney. Anytime I had questions in the process, our calls were answered promptly, He always got back to me and I never had to case him down. Mr. Colmenares even went out of his way to let me see him late on a Saturday. He's not like any other attorney that only cares about your money. He answered all my questions in detail. and gave me advice in how to situate my problems. I didn’t even have to ask him questions because that’s how specific and detailed he was. It was like he read my mind. Always thinking ahead, and was on top of my case. Worth every dollar spent. Highly recommend."
Jack H.