Options for Resolving Back Taxes
Do you owe money to the IRS for years of back taxes? Many individuals are not aware that there are numerous options for alleviating the overwhelming debt that can accrue over time. At Huebner Law Firm, PC, you will find a Fort Worth bankruptcy lawyer who is committed to helping clients to find relief from financial problems. My name is William Huebner, and I am ready to help you navigate the legal process for tax debt relief.
How Can I Resolve My IRS Debt?
While there are numerous benefits to filing for bankruptcy, it will not completely eliminate tax debts, as most taxes are nondischargeable. What bankruptcy can do is discharge all other debts to make IRS debt more affordable, or give you a longer period of time to pay off your all of your debt in smaller amounts.
Outside of filing for bankruptcy, there are a number of ways in which you can find relief for tax debts. These include:
Installment Agreements –
An agreement with the IRS to pay off back taxes in small increments over an established period of time.
Offer in Compromise –
Allows you to offer a settlement to the IRS, which is often less than the amount of back taxes actually owed.
Statute of Limitations –
In limited scenarios where a taxpayer holds out 10 years, the IRS forfeits its legal right to claim unpaid taxes.
Innocent Spouse Relief –
If your spouse erroneously filed a joint return, you may be eligible to file an innocent spouse relief.
Penalty Abatements –
Your attorney can help you determine whether the IRS made any errors or delays, or committed any other act that can be reasonable cause for a penalty abatement.
Currently Not Collectible –
A temporary option for relief should you find yourself in an emergency where expenses exceed income.
Get Started Today. Call (817) 576-1889!
To learn more about your options for finding relief from IRS debt, I encourage you to contact my firm and request your free consultation with a Fort Worth bankruptcy attorney. When you retain the services of Huebner Law Firm, PC, you no longer have to worry; our diligent and compassionate team can help you find a fresh start.
- Drowning in debt
- Feeling stressed because of your finances
- Being harassed by creditors
Why should I file for bankruptcy
There are a number of benefits to bankruptcy, including avoiding foreclosure and putting an end to creditor harassment. Filing can also help resolve issues concerning repossession, past-due taxes, child support payments, and wage garnishments. If you’ve been sued because of a debt, filing for bankruptcy can also help you fight the lawsuit. I can help you understand what filing can mean for you and your family.
Will I lose all of my property
You might be surprised to hear that individuals who file for bankruptcy often lose little to nothing. Every case is different and the amount that you might have to forfeit depends upon a number of unique and complex factors. However, our firm is proud of our success in helping clients retain those assets that are important to them.
Can all debts be discharged
Most debts can be discharged in a bankruptcy, but not all. Some debts—such as most taxes, child support and alimony payments, and student loans—are nondischargeable, meaning they cannot be eliminated altogether. Fortunately, for these debts, it is possible to reschedule or re-organize your payments to be more manageable.
How does bankruptcy work
Bankruptcy can work in one of two ways. First, by filing for a form of bankruptcy referred to as Chapter 7, you can eliminate all dischargeable debt, including credit cards, car loans, mortgages, medical bills and more. Second, you can file a form of bankruptcy known as Chapter 13, which works to re-organize your debts to give you a longer period of time to pay them off. Chapter 13 is preferable to individuals dealing with nondischargeable debts, do not qualify for Chapter 7, or have high-value assets that they wish to protect.
Why do I need a lawyer
You could certainly file for bankruptcy on your own, but it’s not recommended. You’re already anxious enough without the added complexities of navigating the legal process. Having a lawyer handle your case takes the responsibility off of your shoulders and ensures that every detail will be handled correctly and on time. Not sure you can afford an attorney? Huebner Law Firm, PC offers flexible payments plans to help with your bankruptcy case. Get in touch to learn more.
When will I see results
The timeline for bankruptcy can vary on a case-by-case basis. In general, bankruptcy cases are completed between three to six months, depending on a variety of factors. As your attorney, it is my job to make sure the process is completed efficiently and to fight for your rights every step of the way. Speeding can lead to costly mistakes.
For nearly 20 years, my firm has fought relentlessly for people struggling with debt, many of whom are just trying to get by. We have provided the one thing our clients need: results.
Many families fear bankruptcy as much as they fear asking a lawyer for help. The first thing we want you to know is bankruptcy is not an admission of failure; it’s a way to reclaim control over your financial situation. With that in mind, you can ask for help freely, without worry.
My firm has an in-depth understand of the law and how it affects your finances. Our primary goal is to free you from debt and stress. With our understanding of the law and a thorough examination of your situation, you can be sure certain that we’ll explore every possible avenue of debt resolution.
There’s nothing to lose—our initial consultations are free and starting your case requires no upfront payment. Our flexible payment plans begin at $25 a week, so call today!
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