If you face tax debt and are receiving threats from the IRS or the Tennessee Department of Revenue, it is important to explore your legal options. Depending upon your circumstances, you may be able to achieve tax debt relief by filing for bankruptcy.
At the Law Office of W. Thomas Bible, Jr., our attorneys will work with you personally to help you determine if filing for bankruptcy is right for you. We have extensive experience handling tax debt issues for clients from Chattanooga and throughout Tennessee and North Georgia.
Bankruptcy and Tax Debt
Bankruptcy does not eliminate all types of tax debt, but it has proven a very effective form of tax debt relief for many. In order for tax debt to be dischargeable in a bankruptcy, the following circumstances must apply:
- The due date for the tax returns must have been at least three years prior to the date you file for bankruptcy
- The tax returns must have been filed at least two years before the date you file for bankruptcy
- The tax you owe must have been assessed by the IRS at least 240 days before the date you file for bankruptcy
- Your tax returns must not be fraudulent in any way
If you face significant tax debt, it is important to be proactive. Waiting will only make the situation worse. Our attorneys are here to help you explore your debt relief in a relaxed, professional environment. Whether you face IRS tax debt or state tax debt in Tennessee or Georgia, we are here to stand up for your rights.