Tax Debts Attorney in Killeen & Waco

Comprehensive Support for Tax Debt Issues in Central Texas

Are you burdened by tax debt that you simply cannot pay? Are IRS agents coming to your home or place of business? Before you spend another day worrying about the possibility of tax liens, tax levies, or tax garnishments, you owe it to yourself to explore your bankruptcy options. The Killeen tax debts attorney from Erin Baker Shank, P.C., can help you determine which option will help you obtain the greatest relief from your tax debt.

Many firms promise that they can reduce or eliminate your tax debt. Make sure you are receiving both bankruptcy and non-bankruptcy options before you decide how to handle your tax problems. There are a bunch of scam artists out there. 

In some cases, Chapter 7 bankruptcy is the best option and can enable you to discharge IRS debt. If you owe federal income taxes that were due more than three years ago, the returns were filed more than two years ago, and the taxes were assessed more than 240 days before your bankruptcy case is filed, those taxes are dischargeable in a Chapter 7 case.

Property taxes can also be discharged in a Chapter 7 case, especially if you no longer have the asset that produced the property tax in question.

If, however, your taxes can't be discharged in a Chapter 7 case, Chapter 13 bankruptcy might be a better option. This type of bankruptcy allows you to pay off your tax debt, usually interest-free and penalty-free, over a three-to-five-year period. Your assets, such as your home and car, are protected as long as you continue paying the creditors that loaned you the money to purchase these assets. Erin Baker Shank, P.C. also files many “Chapter 20” cases, in which the clients file Chapter 7 bankruptcy to discharge all dischargeable debt, followed by a Chapter 13 bankruptcy, in which only the non-discharged debt (i.e. taxes) is paid over three-to-five-year repayment period under a plan confirmed by the Bankruptcy Court. Many of our clients find that the “Chapter 20” option is the best way to reduce their debt and concentrate on only paying the non-dischargeable tax debt.

Bankruptcy and tax laws are quite complex, and most people would be ill-advised to try to represent themselves before the IRS. Erin Shank has handled hundreds of bankruptcy cases involving tax debt. She knows the bankruptcy IRS agents and attorneys personally and is well-qualified to assist you to discharge and/or repay your IRS debt in an honest, ethical manner. Use her three decades of bankruptcy law experience to help you successfully resolve your tax debt!

Call (254) 690-4110 today for a free initial consultation!