Many people don’t know that some types of tax arrears owed to the state or federal government may often be included in Chapter 7, Chapter 11 or Chapter 13 bankruptcy. If you owe taxes as part of your excessive debt burden, talk to Kurland Law Group about what options for debt relief may be available.
For more than two decades, Kurland Law Group has been helping people solve their debt issues that result from owing back taxes, interest and penalties. The firm’s attorneys will assess your current tax situation and the workout plan you may have already made with the state or federal IRS. Together, you and the team will develop a structured debt elimination or repayment plan that may include your tax arrears.
In most cases, only certain types and amounts of tax arrears can be eliminated through Chapter 7 consumer bankruptcy. Every case is unique, and the firm’s attorneys will examine your circumstances and work with the taxing authorities to determine whether you can eliminate your arrears.
Chapter 11 business bankruptcy can only be filed by individuals if the total debt owed to lenders exceeds $1.1 million. In most cases, your state and federal tax arrears can be included in the supervised debt restructure and repayment plan. In most cases, interest and penalties will be reduced under the plan.
All state and federal tax arrears may be included in a Chapter 13 supervised debt repayment plan. In most cases, interest and penalties can be greatly reduced or eliminated.
Kurland Law Group is a debt relief agency. The firm helps people file for bankruptcy relief under the Bankruptcy Code.