When Are Taxes Dischargeable In Bankruptcy?

If you are facing financial challenges, tax time can be among the most stressful times of the year. When you are living paycheck to paycheck, an income tax bill of any size can lead to extreme financial hardship. For people who are in this situation, seeking relief through bankruptcy is a potential solution.

Understanding The Discharge Of Income Taxes

Generally speaking, it might be possible to discharge income tax debt that is at least three years old, using a Chapter 7, Chapter 13 or Chapter 11 bankruptcy filing.

Even in cases where the three-year rule is met, however, additional terms must be met for federal income taxes to be discharged.

Our bankruptcy attorneys will thoroughly evaluate your situation and give you an honest assessment of whether your tax debt is eligible to be discharged.

Other Options Are Available

Even if your tax debt is not dischargeable, the attorneys at Levitt & Slafkes, P.C., may be able to help you find a workable solution to your financial problems by helping you eliminate other debts.

Our experienced bankruptcy attorneys, Bruce Levitt and Shelley Slafkes, have helped thousands of individuals in Essex County and throughout New Jersey discharge their income tax debt. Attorneys Levitt and Slafkes have more than 30 years of experience in bankruptcy law and have helped clients resolve even the most complex debt problems. No matter how insurmountable your issue may seem, we are prepared to help you find a solution.

How To Contact Us

There are specific rules regarding the discharge of income tax debt. It is important that you understand your rights before proceeding with any debt relief solution.

Learn more about your rights regarding income tax debt. At Levitt & Slafkes, P.C., we offer a free initial consultation with one of our bankruptcy lawyers. You can reach us by filling out our online form or by calling 973-323-2953.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.