Guidance In Dealing With Bankruptcy And Tax Issues
Bankruptcy is an option that many individuals and business owners consider when dealing with substantial tax debt. While income tax, for example, is dischargeable in bankruptcy if the debt is outside of its priority claim period, other types of taxes are nondischargeable such as:
- Employment taxes
- Sales taxes
- Use taxes
Related penalties and interest that survive will have an impact on these nondischargeable taxes as can any negotiations that may be occurring during your bankruptcy.
Bankruptcy As An Option When Dealing With Tax Debt
At Kundra & Associates, our attorneys do not practice bankruptcy law; however, our depth of knowledge on tax law can provide valuable assistance and counsel to those who have substantial tax debt and who are turning to, or considering turning to, the bankruptcy process for debt relief. Our extensive experience can help you understand how to position yourself in the most advantageous way during and following a bankruptcy filing.
Putting Experienced Representation On Your Side
When you are facing substantial tax debt, the lawyers of Kundra & Associates, in Rockville, Maryland, can help you make sense of the situation and effectively pursue an optimal tax burden. To schedule an initial consultation, call 301-637-8130 or contact us online.