If you owe taxes to the Internal Revenue Services or Franchise Tax Board, Chapter 13 Bankruptcy might be a good option for you.
Chapter 13 Bankruptcy can provide relief from tax liability in the following ways:
- 1. upon filing of your Chapter 13 Bankruptcy petition, the Internal Revenue Services and Franchise Tax Board must stop collection activities. This includes wage garnishment and bank levy.
- 2. discharge or eliminate old tax debt
- 3. discharge or eliminate tax penalties
- 4. eliminate or reduce tax liens to the value of your properties at the time of filing. Your tax lien cannot grow because it is fixed at the time of filing.
- 5. interest free repayment of recent and nondischargeable tax debt
- 6. the confirmation or approval process of your Chapter 13 Bankruptcy Plan payment is quick and relatively inexpensive. Bankruptcy Attorney fees can be put in your Chapter 13 Bankruptcy payment plan for up to 60 months. The court filing fee can be put into a 4-month installment payment plan if you need to file your case immediately to stop wage garnishment, bank levy, or tax lien on your house or other real estate.
- 7. repayment of tax debt can be stretch out to up to 60 months and is enforced by Sacramento CA Bankruptcy Court or Modesto CA Bankruptcy Court despite disagreement from the Internal Revenue Services or Franchise Tax Board. Confirmation or Approval of your Chapter 13 Bankruptcy Plan only has to satisfy statutory requirements despite creditors’ disapproval.
Call to schedule a consultation with Muoi Chea Bankruptcy Attorney to determine if you qualify for Chapter 13 Bankruptcy relief from tax liability and how Chapter 13 Bankruptcy can solve your tax troubles.
Before coming in to your consultation with Muoi Chea Bankruptcy Attorney, you should stop by Sacramento or Stockton California Internal Revenue Service branch Offices for “Account Transcript” for the years that you owe taxes. This will provide information about your tax liability so that you get proper legal advice.