Tax Debt & Bankruptcy

Discharge Some Tax Debts By Filing Bankruptcy

Tax debt is a very serious financial problem. The IRS can assess penalties and interest, and attach liens to your property if you don't pay. However, for many people, bankruptcy provides a solution.

Certain taxes can be discharged when you file Chapter 7 or Chapter 13 bankruptcy. Taxes that can't be discharged can be placed in a Chapter 13 payment play and repaid without interest or penalties over a three to five year period.

At the law offices William H. Oliver Jr. & Associates, our lawyers offer a free initial consultation to discuss your options if you have tax debt.

You Can Reduce Tax Debt. Contact William H. Oliver Jr. & Associates for a free bankruptcy consultation in Monmouth or Ocean County.

What Taxes Can Be Discharged?

State and federal income taxes can be discharged if:

  • The taxes are more than three years old
  • The tax return was filed more than two years ago
  • The taxes were assessed not less than 210 days ago
  • The tax debt was not incurred by fraud or willful failure to file

Our lawyers can evaluate your tax debt during your free initial consultation and determine if it is dischargeable.

What if Tax Debt is Not Dischargeable?

Some taxes are not dischargeable. For example, sales taxes and trust fund taxes for Social Security and Medicare are not dischargeable. However, those tax debts can be placed in a Chapter 13 repayment plan.

Free Attorney Consultation

With offices in Toms River and Neptune City, New Jersey, our lawyers are ready to answer your tax debt questions and help you find solutions. Evening and Saturday appointments are available. Call toll free: 1-866-974-1136 or fill out our contact form. Hablamos español.

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