MARTIN AND ST. LUCIE COUNTY BANKRUPTCY AND CREDIT COUNSELING LAWYERS

The Stuart and Fort Pierce law firm of Treasure Coast Legal offers sound legal solutions to individuals who are overwhelmed by debt. There is a common misconception that back taxes and penalties owed to the Internal Revenue Service are non-dischargeable in Chapter 7 and Chapter 13 bankruptcy. This is not always the case. As long as the tax debt meets the IRS's criteria, all or some of it can be discharged in bankruptcy. Even in cases where tax debt does not meet the criteria for discharge, our attorneys have been able to assist clients in reducing other dischargeable debts so that the IRS obligations are more manageable. Contact one of our two South Florida law offices to discuss strategies for tax debt reduction.

Internal Revenue Service Guidelines for Discharging Tax Debt

Before recommending Chapter 7 or Chapter 13 bankruptcy, the attorneys of Treasure Coast Legal will first examine your particular scenario to determine whether your tax debt is dischargeable. In order for your IRS tax debt to be dischargeable in bankruptcy, it must meet the following five criteria:

• The due date for filing your tax return is over three years old
• Your assessment is over 240 days old
• Your return was filed over two years ago
• You have not been found guilty of tax evasion
• Your return was not found to be fraudulent

While the discharge-ability of your tax debt is relevant to our recommendation for bankruptcy, our lawyers may still recommend either Chapter 7 or Chapter 13 bankruptcy based upon your overall debt scenario. If you have a substantial amount of non-tax debt, it may still be to your benefit to file for bankruptcy in either the Martin or St. Lucie County to give you the relief you need to settle your obligations to the IRS. Our lawyers might also recommend delaying filing until your tax debt meets all of the IRS criteria.

Professional Tax Debt Relief Attorneys of Martin, St. Lucie, and Palm Beach Counties

If you are unable to meet your current debt obligations and IRS taxes and penalties are part of the overall load, you may have some options. At Treasure Coast Legal, our attorneys have effectively provided relief for dozens of clients by utilizing Chapter 7 and Chapter 13. To learn more about discharging IRS debt, contact one of South and Central Florida's premier bankruptcy and credit counseling law firms. To schedule an appointment, call our Stuart or Fort Pierce law office at 772-621-2898.