Tax Debt Forgiveness and Bankruptcy
A San Jose bankruptcy attorney mentions tax debt and bankruptcy
Tax debt forgiveness may be one of the best benefits of filing for bankruptcy. Things to know about tax debt forgiveness in bankruptcy. First, tax debt cannot be relieved unless the debt is from three or more tax years prior. Second, in order to receive tax debt forgiveness, the taxes must have been filed with the IRS or Franchise Tax Board three calendar years or later from the date of the filing of the petition.
Bankruptcy may not always be an avenue for complete tax debt forgiveness; however it may provide relief from levies and wage garnishments. The IRS and FTB can levy accounts and wages much easier and quicker than any normal creditor. Tax debt forgiveness through bankruptcy is a blessing to those who qualify.
If you have a question regarding Bankruptcy in San Jose please contact us at 408.279.2288 or visit www.bkanswers.com and we can connect you with one of our experienced San Jose Bankruptcy Attorneys. After you have spoken with one of our San Jose bankruptcy attorneys we can schedule you a free face to face appointment in our office location nearest you. Our team of San Jose Bankruptcy Lawyers can assist you with all aspects of your case. If you have questions about filing a chapter 7 bankruptcy, a chapter 11 bankruptcy, a chapter 13 bankruptcy, lien stripping, cram down, stopping a foreclosure or wage garnishment, discharging debt, etc. we can help! We have bankruptcy attorneys located throughout California who can assist your financial needs. Please feel free to complete our free bankruptcy evaluation and we can quickly determine if you are a qualified candidate for bankruptcy.
