Is There a Chance IRS Debt Could get Discharged in Chapter 7?
Posted By
Majed on Oct 14, 2011 7:00am PDT
Absolutely, albeit a very slim chance. There are very strict guidelines, which govern whether or not federal Income Revenue Service debt can be discharged in Chapter 7.
Some of these guidelines have to do with how old the debt is, if it's pure income debt or penalties, whether or not the debtor has filed a tax return in previous years and whether or not the debtor has a current income tax return on file.
Owing money to the Internal Revenue Service is not to be taken lightly. Contact our firm today to find out if you may fit the narrow exceptions for dischargeable IRS debt.