Tax Debt and Bankruptcy
Contact our Affordable Indianapolis Debt Relief Lawyer
Are you struggling to pay your taxes to the Internal Revenue Service (IRS)? In most situations, tax debt can be discharged through bankruptcy, provided that certain conditions are met. If you are concerned about the problems caused by unpaid taxes, you can put an end to your financial worries.
Get help from our Indianapolis bankruptcy lawyers at Jackson & Oglesby Law LLC today! We can help clarify whether your tax debt can be discharged and assist you through bankruptcy. Our firm can help you obtain debt relief through either Chapter 7 or Chapter 13.
Determining if Your Tax Debt Is Dischargeable
The IRS will consider many factors to figure out if your tax debt can be discharged through Chapter 13 bankruptcy.
By answering the following questions, you can develop a good sense of whether your tax debt can be discharged:
- How recent is the debt?
- When were your tax returns filed / assessed?
- Did you knowingly evade filing / paying taxes?
- Has a lien been placed on your property?
Tax debt is most likely dischargeable if accrued more than three years ago. Debts that are obtained within the past three years are priority debts and are not dischargeable. In order to qualify, your tax returns must have been filed more than two years ago. Debts assessed within the last 240 days cannot be discharged. Debt is also not dischargeable after involvement in tax fraud or by having a tax lien placed against your property.
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