- February 16, 2017
- Posted by: admin
- Category: Tax relief
Many people find out the hard way that most taxes cannot be discharged through bankruptcy, except through Chapter 13 which has the taxpayer paying them off over time.
Some refer to the Offer In Compromise as the bankruptcy of tax settlements because it frequently leaves people owing just a fraction of the total debt.
While you are in bankruptcy, the I.R.S. will cease all bank account levies and wage garnishments automatically, and you can either receive a discharge or a reorganization of your tax debt. Call us and know the rules you need to fulfill to discharge income taxes!