Most older tax debts can be totally eliminated in a Chapter 7 or consolidated and partially discharged under a Chapter 13 reorganization plan. Recent tax debt (typically from the prior three filing years) cannot be discharged, but favorable payment terms can be set up under a Chapter 13 plan.
If you are eligible, be sure to file a Chapter 7 bankruptcy prior to the IRS filing and obtaining a lien/tax levy. This attaches to all real and personal property and is not removed with the court discharge. In this case, you would need to consider filing a Chapter 13 bankruptcy to remove the lien interest and deal with the debt.
At the free initial consultation, we will evaluate your tax obligations as well your other debts to make comprehensive recommendation on how to best resolve your debts. Don’t delay; call today at 866-261-8282 to set up a complimentary and confidential consultation with a licensed attorney.