Are IRS Tax Debts Dischargeable in Bankruptcy for Florida Residents?

Written By: Emil FleysherAugust 5, 2023
Are IRS tax debts dischargeable in bankruptcy for Florida residents

In some cases, IRS tax debts may be dischargeable in bankruptcy for Florida residents. However, the rules for discharging tax debts in bankruptcy can be complex and depend on several factors.

Some Important Things to Know About IRS Tax Debts and Bankruptcy in Florida:

Types of Bankruptcy Individuals in Florida Can File for Chapter 7 or Chapter 13 Bankruptcy

Types of bankruptcy individuals in Florida

In Chapter 7 bankruptcy, most unsecured debts, including some tax debts, can be discharged. In Chapter 13 bankruptcy, you create a repayment plan to pay off your debts for three to five years, including some tax debts.

Rules for Discharging Tax Debts to Discharge Tax Debts in Bankruptcy, Certain Criteria Must Be Met

Rules of discharging tax debts

For example, the tax debt must be income tax debt, and the tax return must have been due at least three years before the bankruptcy filing date. Additionally, the tax return must have been filed at least two years before the bankruptcy filing date, and the IRS must have assessed the tax debt at least 240 days before the bankruptcy filing date.

Exceptions to Discharging Tax Debts

Exceptions to discharging tax debts

There are some exceptions to discharging tax debts in bankruptcy, such as if the taxpayer engaged in fraud or willful tax evasion. Additionally, if the IRS has filed a tax lien on the taxpayer's property, the lien may survive bankruptcy and remain attached to the property.

It's important to consult with an experienced bankruptcy attorney in Florida to determine whether your IRS tax debts are dischargeable in bankruptcy. An attorney can help you navigate the complex rules and requirements for discharging tax debts and guide you through bankruptcy to achieve a fresh financial start.

Get in Touch With Fleysher Law Today to Schedule a Free Consultation With Our Bankruptcy Attorney

When facing IRS tax debts and bankruptcy issues in Florida, clients need Fleysher Law Firm on their side for expert guidance and personalized solutions. We navigate the complex rules and exceptions surrounding bankruptcy, ensuring the best possible outcome for our clients. With compassionate support, we assist in creating tailored repayment plans under Chapter 7 or Chapter 13 bankruptcy, all while safeguarding clients' assets and financial stability.

Once you secure our services, you will receive the following:

1. Thorough Assessment: Our experienced bankruptcy attorneys will conduct an exhaustive and comprehensive review of your tax debts and financial situation. We understand each case is unique, and we take the time to understand your circumstances. This allows us to determine if your IRS tax debts are dischargeable in bankruptcy and which type of bankruptcy, Chapter 7 or Chapter 13, might best fit your situation.

2. Expert Guidance: Navigating the rules for discharging tax debts in bankruptcy can be daunting and complex. But worry not. Our Fleysher Law Firm team is well-versed in bankruptcy law's intricacies. We will provide you with clear and accurate guidance throughout the entire process. From gathering the necessary documentation to filing your bankruptcy petition, we will be with you every step of the way.

3. Tailored Solutions: Every client's financial situation is unique, and no one-size-fits-all approach exists. If you qualify for Chapter 7 bankruptcy, we will work to have most of your unsecured debts, including some tax debts, discharged entirely. If Chapter 13 is a better fit for your circumstances, we will assist you in creating a feasible repayment plan. We aim to find the best solution that gives you a fresh start while preserving your assets and financial stability.

4. Navigating Exceptions: Discharging tax debts in bankruptcy may come with certain exceptions and limitations. For example, the tax debt must be income tax-related, and specific timeframes and requirements must be met. Additionally, if there are issues related to tax fraud or willful evasion, the dischargeability of the tax debt could be affected. At Fleysher Law Firm, our attorneys deeply understand these exceptions and how they might impact your case. We will work diligently to address any challenges and increase the likelihood of a successful outcome.

5. Compassionate Support: Facing IRS tax debts and bankruptcy can be emotionally challenging and stressful. At Fleysher Law Firm, we provide legal expertise and compassionate support during this difficult time. We are committed to being your advocates and helping you regain control of your financial future.

Don't let IRS tax debts overwhelm you. Contact Fleysher Law Firm today and take the first step towards financial freedom. Let us help you achieve a fresh start and build a more solid financial foundation for the future. Schedule a consultation with us now and get the support you deserve.

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