Knoxville Bankruptcy Attorneys TN
It depends on a variety of factors. Although declaring bankruptcy can help with taxes, it is most times, not the one-stop solution that many people envisage. Bankruptcy can help you do away with some tax debts and help you cope with some others. However, the law is complicated and this article is meant to offer you a general overview of the situation and what it means.
You can also discharge your tax debt if you filed for bankruptcy at least two years after filing the tax return for the taxes in question. Your ability to get a discharge will be severally impaired if you filed the return late.
Help Available In Bankruptcy As mentioned above, bankruptcy does not usually offer the quick discharge of tax debts like it does for most credit card debts, medical bills, and some other dischargeable debts. However, it is important to note that income tax debt could be discharged in some cases.
Can Property Tax Be discharge? Yes, property debt is dischargeable in some circumstances. Property tax may be dischargeable if the bankruptcy is filled at least one year after the last date that tax could have been paid without penalty. For more info visit us http://thesextonlawfirm.com/practice-areas/knoxville-bankruptcy-attorney/