Tax debts and concerns can come to feel unmanageable quickly. When you have questions about taxes or tax debt threatens your ability to provide for your family, you need an attorney who is knowledgeable in tax law and skilled in managing, negotiating, and litigating tax matters. If you need help with tax debt in Hamilton County, greater Indianapolis, or anywhere in Indiana, call a Carmel Fishers tax attorney at Camden & Meridew, P.C.
How an Indiana Tax Lawyer Can Help
Taxpayers often try to handle tax debt matters themselves only to find that their debt has gotten too far out of hand to manage alone. For Hoosier taxpayers, hiring a qualified Indiana tax attorney sooner than later can prevent tax debt from escalating due to interest and penalties. Unfortunately, many people wait until their situation is completely unmanageable before they seek help with tax debt in Indiana.
Whether your matter involves tax debt, defense of tax-based claims, or other tax-related matters, calling a Carmel Fishers tax attorney at Camden & Meridew, P.C. early in the game can help resolve tax matters and reduce your overall exposure and cost. Let us help identify options and possible solutions to your tax problems.
Is Tax Debt Dischargeable in Bankruptcy?
Some tax debts are dischargeable through Chapter 7 bankruptcy. You may not have to pay your tax debt if both of the following apply:
- Your tax debt is more than three years old.
- You filed tax returns related to the tax debt.
However, income tax obligations that are less than three years old are not dischargeable under Chapter 7. Old business taxes, sales taxes, and payroll taxes are also not dischargeable.
If you are not eligible to file for Chapter 7 protection, filing for Chapter 13 bankruptcy may be an option—sometimes a better one. In Chapter 13 bankruptcy proceedings, you can include non-dischargeable tax debts in your Internal Revenue Service (IRS) repayment plan. In addition, the bankruptcy’s automatic stay also applies to the IRS, meaning that the IRS must stop all efforts to collect your tax debt.
Filing for Chapter 13 bankruptcy also provides additional protection, such as allowing the discharge of penalties that the IRS has added to your tax debt, and your tax debt will accrue no new penalties or interest while you are in Chapter 13. If you take control of the situation as soon as possible, your payment to the IRS could be significantly less by going through bankruptcy than if you had tried to work out a debt settlement agreement on your own.
Other Help with Tax Debt in Indiana
If bankruptcy is not the best option for you, other options are available. For federal tax debt, we can work to negotiate a settlement with the IRS. Whether a tax debt arose from the failure to file tax returns, inaccurate calculations on tax returns, or the failure to pay taxes, early assistance from a Carmel Fishers tax attorney at Camden & Meridew can help resolve your tax debt more efficiently.
Several options are available to resolve a federal tax debt or dispute:
- Declaring a tax debt non-collectible; or
- Other solutions tailored to your overall financial circumstances.
The sooner you call, the sooner we can help put your tax matter behind you.
Call Camden & Meridew to Find Your Indiana Tax Attorney
Camden & Meridew, P.C. can help you move past your tax matter. When you contact us early, we can provide solutions sooner rather than later. Whether your matter involves the IRS, the Indiana Department of Revenue, or an Indiana Tax Court matter, we can help, but only if you call.
We offer flexible appointment times so we can best answer your questions about bankruptcy tax relief, IRS debt settlement agreements, and other ways we can help. For help with tax debt in Indianapolis and throughout Indiana, call Carmel Fishers tax attorney Julie Camden at 317-770-0000 or complete our online contact form.