Tax Forgiveness

Taxes are not generally dischargeable in Flint bankruptcy.

There is an exception to almost any rule, though. When you file for bankruptcy, there could be a way to get fines, back taxes, and fines discharge. You need to fulfill the standards of the IRS to qualify for tax remission for unpaid back taxes. Let one of the professionals at Kostopoulos Bankruptcy Law help you to deal with IRS tax debt forgiveness.

To qualify for IRS tax forgiveness and tax debt discharging, you have to fulfill these three standards:

1. Tax debts have to be reviewed by the IRS at least 240 days before filing for bankruptcy.
2. Your tax returns for the debt must be on file for more than two years.
3. The debt forgiveness tax you owe the IRS has to be at least three years old.

If you meet these requirements, you could be allowed to file for Chapter 7, Chapter 11, or Chapter 13 bankruptcy. This will stop any collection attempts by all creditors with Chapter 7 bankruptcy. Your debt will likely be forgiven within 90 days of your lawsuit. Once your obligations have been dismissed, the IRS tax forgiveness program can start to pursue debts again.

With the automatic stay in place, you can set up a repayment plan for those debts not dismissed. Chapter 13 bankruptcy can restructure your debt so that you pay in smaller installments. Chapter 13 bankruptcy can even get some of your debts dismissed.

Contact Kostopoulos Bankruptcy Law to set up a free consultation with one of our expert attorneys! 

At Kostopoulos Bankruptcy Law, we represent Southeast Michigan. With our years of experience and board certification, we’ll help you find the best way to regain financial freedom. We are dedicated to helping you with your case. We can help to resolve wage garnishment or tax liens, and even payroll tax deferral forgiveness. Call now to ask about your tax forgiveness and we’ll give you some options.