Settling with the IRS
If the IRS or the State of California is garnishing your wages, has placed a tax lien on your property, or levied your bank account, bankruptcy will stop the government. When you file for bankruptcy, the automatic stay on collection of a debt applies to the government, too.
- Back tax issues can be resolved, sometimes without paying anything.
- Once the collection action is stopped, bankruptcy can provide for a payment plan of back taxes.
- Income taxes that are more than three years old may also be discharged in bankruptcy.
Solutions Other Than Bankruptcy
If you do not wish to file for bankruptcy, your tax debt can be negotiated with the IRS or the State of California. These negotiations may include an Installment Plan to pay back taxes, an Offer-in-Compromise, a Tax and Lien Release or Tax Penalty Abatement services. To find out which approach is best for you, contact us today for a no-cost consultation.
Stephen Burton has served as an attorney for bankruptcy trustees, taught bankruptcy at the National Business Institute and practiced before the bankruptcy courts. He regularly attends continuing education classes. As a consequence, virtually every case he files is successful.