Many people are unaware that older income taxes are dischargeable if still owed at the time of the filing. The dischargeability of taxes can only be assessed by an experienced bankruptcy practitioner who has a sophisticated level of practice.
The basic rules are very easy to understand on tax dischargeability, but there are many rules beyond the basic ones, such as tolling rules. Moreover, the interplay between the IRS and the FTB has to be understood by your attorney to make the discharge as effective as possible.
It is necessary to pull your tax transcripts from the IRS and FTB to determine the tax authorities dates on certain events prior to filing a bankruptcy case. If you file your case too early, even by one day, then the taxes are not discharged.
LeverLaw files tax dischargeability bankruptcies as we have years of experience working in association with tax attorneys on these cases.
Get clear with the IRS and the FTB. Consult with us and we’ll analyze your case to see if bankruptcy will help with your tax obligations.
