Blog Post

Is Bankruptcy an Option for Me?

bankruptcySome income taxes can be discharged at bankruptcy.

Income taxes can be discharged at bankruptcy, whereas payroll taxes cannot. The income tax must have been “assessed” more than three years before the date of the bankruptcy. We do not advise on bankruptcy law, but if we think that bankruptcy is appropriate for you, we will recommend bankruptcy, discuss the basic provisions with you and what such a step will mean in your life, determine the assessment date and help you find a bankruptcy specialist near your home.

Because the three year rule on assessment is an absolute, we may also recommend that you hold off for a certain period until the bankruptcy filing will have the best effect for you. While you are waiting, there are procedures we can follow to keep you safe.