Bankruptcy: A Potential Option To Resolving Tax Debt

The IRS has plenty of tools at its disposal to collect on unpaid tax debts. Fees and interest are often attached to an existing tax debt if it isn't paid in a timely manner. In other situations, the IRS simply places a lien on an individual's personal property or garnishes their wages.

Fortunately, there are options available to settle outstanding tax liabilities. An offer in compromise is one; negotiating a monthly installment plan is another.

However, depending on individual circumstances, filing for bankruptcy may be the best option.

Is Bankruptcy Right For You?

Bankruptcy is a process that allows people to discharge or restructure their debts. In some instances, individuals have filed for bankruptcy and walked away debt-free in 90 days.

This option may be viable for those who have other outstanding liabilities, such as high credit card debt or unsecured loans, in addition to tax obligations, such as personal income tax arrearages.

I am Max Benkel, an Atlanta, Georgia, tax attorney, and I have been finding solutions to people's tax dilemmas for decades. There likely isn't a situation I have not encountered. As a former IRS lawyer, I know the laws and options available. I work directly with IRS officials as well as those in the bankruptcy arena to find the best solution to a situation.

Schedule A Free Consultation With A Bankruptcy Lawyer

If you are feeling overwhelmed with a tax obligation and other types of personal debt, reach out to me via phone: 404-287-0053 (toll free at 888-779-9024). I can find out if bankruptcy is right for you and talk with you about tax law in greater detail. You can also send me an email.

If you are facing an IRS audit or potential lien against your property, contact me to find out how I can help.

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