Discharging Tax Debt Through Bankruptcy
If you owe taxes, the IRS will not turn a blind eye. They will come after you with the full authority of the federal government. But there is good news: You can counter their power with the protections of the Bankruptcy Code. At Belknap & Mayer, P.C., we have a comprehensive knowledge of bankruptcy law and a dedication to providing the finest client service available. We can help you put your tax debt behind you, and protect you from the harsh tactics of the IRS.
Take the first step to putting your tax debt behind you. Contact us today online or by phone at 215-874-5415. We serve clients in Yardley, Pennsylvania and throughout the surrounding area.
Bankruptcy and the IRS
If you have outstanding tax debt, the IRS can seize and sell your property, freeze your bank accounts, garnish your wages and take other drastic actions. However, bankruptcy can protect you from the debt collection practices of the IRS.
If you have outstanding tax debt, a Chapter 13 bankruptcy can help you reorganize and reduce that debt. If your personal income tax debt is older than three years, bankruptcy may allow you to eliminate it completely.
The great benefit of filing for bankruptcy for tax debt is that it eliminates the hefty penalties the IRS imposes on overdue taxes. The penalties the IRS assesses on tax debt can double the amount you owe, but after filing for bankruptcy, you can eliminate the penalties and concentrate on paying back the debt plus any interest that has accrued.
Contact our Yardley, Pennsylvania Office Today
If you are struggling with tax debt, we can help you find solutions. Contact us today online or by phone at 215-874-5415 to speak with an experienced bankruptcy lawyer. Our attorneys serve clients throughout southeastern Pennsylvania from our conveniently located law office in Yardley.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
