Taxes and
Bankruptcy: The Nuts and Bolts
Back Taxes
And You!
You're
worried about not paying some money that you
owe the IRS! Well! Why shouldn't you be
worried? Back taxes owed is nothing to ignore!
What's that you say? You don't have the money
and you can't raise it! If you owe State,
Federal, or local taxes and you are also
behind in other payments to creditors, Federal
Laws can give you assistance.
Filing
Bankruptcy Stops Tax Garnishments!
Many times,
the biggest pressure on you is the garnishment
the IRS or State Revenue Office has in
place....a garnishment that is sucking out of
your wages and away from your family money
that is desperately needed to take care of you
and your family. Filing bankruptcy stops tax
garnishments....Cold. As soon as the taxing
authority finds out about your bankruptcy, it
is supposed to act immediately to stop the
garnishment. How powerful is that? It does NOT
matter what kind of tax you owe. The
garnishment must stop. You may still owe for
the tax, but with the garnishment stopped and
the other powers bestowed upon you by filing
bankruptcy, you are in a better position to
deal with that tax on terms you can afford,
with you in control...instead of them.
And...if the tax is of a kind that you can get
rid of in bankruptcy...that is the end of the
garnishment...forever.
A Lot Of
IRS Income Taxes Are Dischargeable:
Next....if
your problem is Income Taxes (as opposed to
something like Withholding taxes), we first
look to see how old it is. Why? Because...if
the taxes you owe are more than 3 years old,
you may not have to pay them back at all. Let
me repeat that. You may not have to pay it
back at all. Most people and even some
bankruptcy attorneys don't know this....but
the fact is that certain older taxes are
"dischargeable"....which means you
can get rid of it by filing bankruptcy and not
pay it back...ever. There are 4 rules to apply
to see if your back income taxes are
dischargeable....but fortunate for you.....we
know the rules. We apply
these rules all the time.....and we also know
how to get dead-accurate information from the
IRS itself to verify what you owe and whether
it is dischargeable under these 4 rules.
What
About The Taxes I Can't Get Rid Of?
We can get
you up to 60 months to pay it back. This
assumes you file the "Loan
Consolidation" type of Bankruptcy case.
This is also called a "Chapter 13
case".
What does
this mean? It means you can get the IRS off
your back for 60 months. It means you can set
up payments that may be affordable. For
instance....if you owe the IRS $12,000.00 in
"non-dischargeable" taxes, you
can....in most cases....force the IRS to take
payments of as little as $52 per week. In
many...if not most....cases, you can also
force the IRS to take payments....without
adding interest. That's a lot better than just
worrying.....a lot better than having the IRS
grab your stuff or levy on your bank
account.....or worse...a lot better than
having the IRS garnish your wages.....and a
whole lot better than having to come up with
$12,000 in case.
Disclaimer:
Sure there's
more to it than just this, but it's
complicated to generalize and cover everyone's
potential situation. Results will vary
depending on a lot of things. This example and
explanation covers a good general description
of how Federal Law takes a situation and fixes
it for you. This information is
general.....but should tell you that even a
very bad situation can afford some fantastic
possibilities if you talk to the right person.
The Law
Office of Denvil F. Crowe has handled
thousands of situations and can talk with
real expertise in these matters. Not everyone
can boast such numbers. We can sincerely help
most people that come in and talk to us.
The problem
will never just go away by itself! You need to
take some action and it has to be the right
action! Call for a FREE Confidential
Appointment! We will give you all of your
options!
Call now for
a free initial consultation! We can help!
We can solve
most of your financial problem..... and a few
more..... that you might not know you have!
Call today to set up a FREE Debt
Consultation.
662-844-7949
24 Hour Appointment line:
662-842-HELP(4357)
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