Killeen Lawyer Handling Tax Debt In Bankruptcy

The Internal Revenue Service will go to great lengths to collect unpaid tax debts. For example, the IRS can levy your wages or bank accounts or place a lien on your property. Many people wrongly believe that tax debts can never be discharged in bankruptcy. In fact, tax debts may be wiped out in many situations. If you are facing IRS tax liens or levies or if you are simply wondering what to do about your tax debts, it is crucial to talk to a knowledgeable lawyer.

From our office in Killeen, we at Wm. Barry Phillips, P.C., help people solve debt problems through bankruptcy. Our attorneys, James O. Cure and George Micco, have nearly 50 years' combined experience. We will work closely and directly with you throughout the process, providing practical guidance and counsel when you need it most.

When Are Tax Debts Dischargeable In Bankruptcy?

Generally, income tax debts can be discharged in bankruptcy under the following circumstances:

  • Your taxes were due more than three years ago.
  • You filed returns in a timely fashion or returns have been on file for at least two years.
  • You did not attempt to evade the taxes or commit fraud.
  • The IRS assessed the tax debt at least 240 days before your bankruptcy filing.

Payroll taxes cannot be discharged. Our attorneys will look carefully at your financial situation, including your tax debts. If bankruptcy is the right decision for you, we will work tirelessly to help you get the tax relief you need.

Central Texas Tax Lien Attorneys

Tax liens can be a huge problem for people. If the IRS has placed a lien on your property, it can make filing bankruptcy a real challenge. Even if there is a tax lien on your property, however, you may still have options. If you have no equity in your home, a tax lien may not survive bankruptcy. Even if the equity in your home is less than the value of the lien, some of your tax debts can be wiped out in either Chapter 13 or Chapter 7. Our law firm will give you the information you need to make decisions in your best interest.

Contact Wm. Barry Phillips, P.C.

Call 254-634-0271 or email our law firm to arrange your free initial consultation.

We are a debt relief agency. We provide legal representation for people filing for bankruptcy relief under the Bankruptcy Code.