Tax Bankruptcy Against the IRS
You can bankrupt with the IRS but must use caution when considering whether bankruptcy will eliminate tax debt
- Even when bankruptcy can help, most clients want to avoid bankruptcy if possible.
- While certain tax debts are eliminated by bankruptcy, NOT all tax debts can be eliminated.
An Offer in Compromise is often a much better alternative than bankruptcy, and the Offer can erase ALL your tax debts - even if bankruptcy won't!
If you qualify for bankruptcy, you probably qualify for an Offer in Compromise
- If you are considering bankruptcy because of federal taxes, you should carefully examine all your other options first - options which can stop the IRS.
- Why ruin your credit more than you have to?
- If you have taxes which could be eliminated by bankruptcy, the IRS must take that into consideration when you submit an Offer in Compromise.
With the IRS' new Offer in Compromise rules, bankruptcy should only be used when there is no other alternative available
Jeff Fouts can direct you to the most beneficial settlement with the US Internal Revenue Service. Any compromise with the IRS will be in your best intrest.
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