Handling Back Taxes in Bankruptcy
Many Americans owe some amount in back taxes to the federal government. The collection tactics employed by the IRS can be particularly aggressive in some cases. However, the reality is that there are many instances in which an individual may not earn sufficient income to satisfy these tax obligations. For those persons who find themselves in this situation, it may be advisable to consider seeking the protections available through a bankruptcy filing.
If you are facing threats of wage garnishment or other penalties from the IRS, we can help you to determine whether bankruptcy might help to relieve some of this strain. To schedule an initial consultation, contact the Houston bankruptcy lawyers of Russell Van Beustring P.C., at 713-973-6650.
How Can Bankruptcy Help?
When a person is being penalized by the IRS, their precarious financial position can become even less stable. With wage garnishments and other enforcement methods at its disposal, the IRS can make a bad situation much worse, and quickly. Bankruptcy can help to shield a tax debtor by offering the following benefits:
- Preventing or halting wage garnishment and certain other penalties
- In Chapter 7 bankruptcy, discharging some income taxes
- In Chapter 13 bankruptcy, providing a more favorably structured repayment agreement
Even though it is not required that a bankruptcy case be filed with the assistance of an attorney, it is strongly advisable that you retain experienced legal counsel. The failure to do so can result in mistakes that lead to the rejection or dismissal of your case or in a filing that does not protect your interests to the fullest possible extent. An experienced bankruptcy attorney may be your best option for handling your case.
The IRS is notorious for its aggressive methods of collection, each of which can make your life much more difficult if you owe back taxes. For compassionate and capable legal representation, contact a Houston bankruptcy attorney of Russell Van Beustring P.C., by calling 713-973-6650 today.