Unpaid taxes, interest and penalties can be eliminated by filing bankruptcy if you qualify. In certain cases, bankruptcy can be the best solution to resolve your tax debt.
Unfortunately, not everyone qualifies to wipe out their tax debt in bankruptcy. Certain rules have to be met first. If you file bankruptcy and don't meet the rules, the IRS will still pursue your assets and income to resolve your tax debt even after your bankruptcy is over. Proper pre-bankruptcy planning is key to determining if bankruptcy is or can be a viable solution.
At Fosselman & Associates, CPAs, we've been serving the accounting needs of Palmer, AK and the surrounding areas for years. If you need help managing any aspect of your home or business's finances, we want to hear from you.
Please fill out this form and let us know how we can best serve you.
Thank you for visiting. We look forward to working together!