Practice Areas » Miami & Ft. Lauderdale Tax Law » Bankruptcy Tax Defense

Taxes are usually one of the major debts of individuals and businesses. Filing bankruptcy is one way in which outstanding tax debts may be reduced and/or eliminated in qualifying cases. Filing a petition for bankruptcy creates a bankruptcy estate which consists of all the assets of the petitioner filing bankruptcy. In a bankruptcy proceeding, when a part of the bankruptcy estate owed to another is canceled the amount canceled or forgiven is not considered income, and therefore not taxable.  In this way, bankruptcy gives both short term and long term benefits to debtors. The most important short-term benefit is the “automatic stay” that freezes most collection actions by creditors, including the IRS.

However, Debtors under Chapter 7, 11, 12, and 13 must file all unfiled tax returns and are still required to file all their tax returns that become due after the case commences.  Failure to file returns or request an extension could result in harsh consequences. 

There are two main long-term benefits to filing bankruptcy, as related to tax liability. First, there is a discharge from personal liability for most debts. Second, there is an opportunity to establish a plan to pay off debts pursuant to a reasonable timetable without the undue burden of harassment by creditors. Debtors can also litigate underlying tax liabilities, which can be a great advantage if the jurisdictional requirements of the other tax litigating courts can not be used.

Are your taxes dischargeable in bankruptcy?   Is filing bankruptcy a defense against the IRS?

If you would like to explore the possibility of using bankruptcy as a way to decrease tax liability, you may be able to achieve this objective by utilizing one of our experienced attorneys, familiar with the complexities and legal ramifications of different aspects of the Internal Revenue Code, the Internal Revenue System and the bankruptcy courts. Bucci Law Offices can be your tax advocate and fight for your rights!

Even if you cannot pay all of your back taxes, you can still stop the IRS’s enforced collection actions and try to settle your tax liabilities by negotiating a reasonable monthly payment plan or an offer in compromise settlement that pays a fraction of what is owed.  At Bucci Law Offices, our tax and bankruptcy attorneys can help you establish these alternative payment methods as well as analyze and assess other options that may be more suitable to resolving to tax problems including filing bankruptcy.    Call Bucci Law Offices today at 954-764-4440 or 877-764-4440 so we can be your tax advocate and fight for your rights!

How Can Bucci Law Offices Help?

Dealing with the IRS alone can be very intimidating, often times, resulting in nothing more than increased interest and penalties being assessed against you.  We can eliminate this stress for you.  You can stop answering harassing phone calls and receiving letters from the IRS.  Instead, you can have us, your trusted partner, deal with the IRS on your behalf and help you get the results you need.  The tax and bankruptcy attorneys at Bucci Law Offices have extensive experience with the IRS and can navigate through their rules and regulations, while advising you of your best possible options for resolving your IRS problems.

Remember, IRS problems do not go away by themselves and usually require immediate attention.  You need to know your rights and understand your options.  At Bucci Law Offices, our tax attorneys can help you analyze and assess the options most suitable to resolving your tax problems. You need someone in your corner to protect your rights and interests – we can do just that.  Bucci Law Offices can be your tax advocate and fight for your rights!

Contact Bucci Law Offices today to get the help you need and deserve.  Each second you delay is costing you money!  How long can you afford to do nothing? Call Bucci Law Offices now at 954-764-4440 or 877-764-4440 to learn more about how we can help you with your tax resolution!