Lynch Law Offices, P.C.
Call Us Now for a FREE Consultation:
Offices in Four Convenient Locations

Bankruptcy: A possible route for tax debt relief

A federal tax debt can raise a wide range of problems for a person. So, one thing some might wonder is: What kind of relief can bankruptcy provide individuals regarding tax debt? What help a person could get from bankruptcy when it comes to tax debt can be impacted by many factors.

One is the type of tax debt they have. A discharge of federal tax debt can be available in a bankruptcy. However, not all types of tax debt are eligible for discharge. Rather, such a debt has to meet certain requirements to qualify. We go over these requirements on our tax debt page.

Another thing that can have impacts on what happens with a person’s tax debt in a bankruptcy is the type of bankruptcy a person files for. Chapter 7 can provide a relatively straightforward route to discharge (provided a person’s debt is dischargeable). Meanwhile, Chapter 13 can provide a person a route to handle their tax debt through a payment plan. Various things can affect what type of bankruptcy a person could file for and which bankruptcy type would best fit their overall situation.

Another thing that can impact what degree of tax debt relief a person could end up getting through a bankruptcy is how they act during the bankruptcy process. This process involves many complex steps. Making mistakes during such steps could compromise a person’s overall goals related to the bankruptcy. This includes their goals related to tax debt they have incurred.

So, when looking into or pursuing a bankruptcy in relation to tax debt, it can be of considerable importance to have guidance from an attorney experienced in bankruptcy matters.

No Comments

Leave a comment
Comment Information

How Can we Help You? Contact An Attorney

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Four Convenient Office Locations To Serve You

Toll Free: 800-491-7493 Fax: 888-691-8337

Five Convenient Office Locations To Serve You

Lisle Office - DuPage County
1011 Warrenville Road
Suite 150
Lisle, IL 60532

Map & Directions

Lockport Office - Will County
900 South State Street
Second Floor, Suite A
Lockport, IL 60441

Map & Directions

Aurora Office - Kane County
1444 North Farnsworth
Suite 100
Aurora, IL 60505

Map & Directions

Palatine Office - Cook County
800 East Northwest Highway
Suite 700
Palatine, IL 60074

Map & Directions

Chicago Office - Cook County
1 S Dearborn
Suite 2100
Chicago, IL 60603

Map & Directions

Toll Free: 800-491-7493 Fax: 630-960-4755