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Quick Review of Tax Liability & Bankruptcy

Most people assume that bankruptcy becomes necessary after purchases get out of hand, loans or bills pile up, and house or vehicle payments are simply too great to overcome. While this is the case in a majority of bankruptcy cases, it is also true that many people have to file for bankruptcy due to tax obligations, or tax liabilities.

Bankruptcy allows you to pay off your tax liabilities in an organized, affordable way. Our firm will help you put together a repayment plan that works for you. Bankruptcy allows you to consolidate all of your obligations, including taxes, into one affordable payment. Bankruptcy will stop all Internal Revenue Service (IRS) collection activity like garnishments and levies, allowing you to find financial freedom. Tax liabilities that are more than three years old may even be discharged depending on the specific situation.

Before you can enjoy the benefits bankruptcy brings in regards to tax liabilities, you must first begin to take steps to get the wheels turning. Let Bournakis and Mitchell, P.C. and our Northwest Georgia bankruptcy attorneys know what is going on during a free initial consultation and we can point you in the right direction. Your financial freedom and peace of mind are our top priorities from the moment you retain our services. Contact us now for more information.