A bankruptcy tax attorney is a legal professional specializing in bankruptcy and tax law. The attorneys are responsible for helping individuals and businesses to navigate the complex financial situation. They are experts in different bankruptcy tax laws and determining which option suits you.
The largest segment of our population owes back taxes to the IRS. Depending on the tax law, the attorneys understand which assets are exempt from being sold during bankruptcy. Their main focus is to reduce debt, negotiate with the IRS and develop strong communication between you and IRS. Ideally, the IRS cannot collect taxpayers after ten years. If the taxpayer did not file the tax return timely, the statute for assessing and collecting the tax would be expired.
If you are in Houston and thinking about bankruptcy tax, there are documents needed. A single or unfiled document may dismiss your case. The guidance of an experienced lawyer becomes necessary. The attorney gathers and organizes necessary tax documents to resolve the case without any issues. Bankruptcy tax attorneys in Houston involve legal and financial matters. The attorney stands by your side to help you to understand the tax implication and file your case.
If there are challenges or disputes related to your tax debt, the bankruptcy attorney of Mitchell Tax Law is there to help you. It is the most renowned firm in Houston with experienced attorneys to resolve all kinds of tax issues. You can get resolution from tax debt, real estate issues, truck driver taxes, or more.
There are lots of complexities in the tax world. The bankruptcy tax law dictates three chapters of tax law. That chapter includes 7, 11, and 12. These chapters come under federal law of regulation. Chapter 7 benefits the people who have no asset to pay. It includes student loans, child support, alimony, and fraud. In short, the income is less and the debt is more. Chapter 11 and 12 is for seasonal business. The payment is done when they have money to pay. Seasonal fruit sellers, farmers, fishermen, and other businesses that earn on a seasonal basis benefit the most. Bankruptcy is often classified as a priority and nonpriority. Priority tax cannot be discharged and nonpriority can discharge. We place all the alternatives in front of you and explain them thoroughly.
Call us and schedule your appointment today! We assure you to handle all the complications worry-free.
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