Bankruptcy and Tax Debt in Houston, TX
Houston Bankruptcy Lawyer
How will bankruptcy affect your tax debt? This is an important concern for many debtors throughout Houston and across the U.S. If you owe back taxes and are faced with an overwhelming amount of unsecured debt as well, you may be considering bankruptcy as a solution. Addressing your tax debt will be a key point to review with your bankruptcy lawyer. Some taxes cannot be discharged through bankruptcy. The type of tax debt, age of the taxes and whether you file under Chapter 7 or Chapter 13 may all affect whether or not you are able to discharge tax debt through bankruptcy.
By contacting the Malaise Law Firm, you can schedule a confidential consultation with a Houston bankruptcy attorney who has the knowledge and experience to properly determine how your tax debt may be affected by bankruptcy. We can help you make the right choice about filing in the first place.
Eliminating Tax Debt through Bankruptcy
There are specific rules that apply in discharging tax debt through bankruptcy. If your tax debt meets the following criteria, you may qualify:
- The due date for filing your tax return occurred at least 3 years ago
- Your tax return was filed at least 2 years ago
- You are not guilty of attempting or committing tax evasion
- The return was filed properly and is not fraudulent
- The IRS must have assessed the tax at least 240 days before you filed for bankruptcy
In addition to these issues, the person filing for bankruptcy (bankruptcy petitioner) must prove that the four previous tax returns have been filed with the IRS. The petitioner must also provide a copy of their most recent tax return to the bankruptcy court and to any creditors who request a copy.
Interested in addressing your tax debt? Contact a Houston Bankruptcy Lawyer at our offices to find out what you may be able to do to eliminate past due taxes.