Resolving Tax Debt In Bankruptcy
The process for paying back taxes you owe can drag on for years and feel like there is never a light at the end of the tunnel. Depending on the type of taxes you owe and the due date of the return, filing bankruptcy may be your best option for discharging your tax debts and achieving the fresh start you seek.
At Mockensturm, Ltd, we are a firm in Toledo, Ohio, led by attorneys and CPAs. We have a tremendous amount of tax law and bankruptcy experience. We are dedicated to providing our clients with a swift resolution to their issues coupled with the attentive brand of service we have come to be known for.
Won’t bankruptcy hurt your credit? Not as much as you might think. In fact, bankruptcy may be the catalyst for getting your credit score back on track. Credit reports begin to show signs of repair within 18 to 24 months after a bankruptcy filing. And it is important to remember that if you owe a significant amount on back taxes or have been falling behind on your bills, your credit is already likely to be severely damaged.
Isn’t it wrong to not pay my debts? Due to interest, hidden fees and other special charges, debts are often severely overblown. By filing bankruptcy you are not screwing over your creditors, you are taking advantage of bankruptcy laws to pay back what is fair.
Is bankruptcy the right choice for relieving your tax headache? If you owe back income taxes, contact us today for a Initial Consultation with our Toledo tax debt lawyers. We can help you determine whether you are eligible to discharge tax debts through bankruptcy and, if not, counsel you on other solutions for resolving your tax issues.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires the following notice: We are a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code.