Can I discharge taxes in bankruptcy?

CNC stands for currently not collectible. That means that the IRS does not require you to make any payments towards your tax liability. Almost all of our clients who want to discharge taxes in a bankruptcy will have to wait 2 or 3 years depending on the assessment dates of past returns with taxes owed. If you quality for a CNC status, you have the benefit of not having to pay any money towards your tax debt while you are waiting to discharge your taxes in a Chapter 7 Bankruptcy. The important question to get an answer on is then—do you qualify to file a Chapter 7 bankruptcy. There are limitations to the amount of income you are earning and assets you own. A consultation ahead of time can allow you to prepare for qualification to discharge your tax liability. Scott Allen EA of Mesa Arizona in 85204 offers free consultations for IRS debt settlement options. Give him a call today at 480-9269300.

Scott Allen E. A.

Tax Debt Advisors Inc