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I have a large debt with the IRS. I am currently under a payment agreement but would like to get the debt settled for a lessor amt. Can youadvise me where to start. I live in Houston Texas

Submitted: 18 days and 3 hours ago.

Category: Legal

Value: $18

Status: CLOSED

Already Tried:
nothing except talking with the IRS myself. I did do an offer in compromise that was denied.

Posted by KUMAR PATURI ESQ 18 days and 3 hours ago.

Info Request

have you considered a bankruptcy as that may be an option.

18 days and 3 hours ago.

Reply

I wasn't aqware that this was an option with the IRS

Posted by KUMAR PATURI ESQ 18 days and 3 hours ago.

Answer

If the income tax debt qualifies under the following rules then the tax debt is dischargeable in Chapter 7 and Chapter 13 bankruptcy petitions.
The due date for filing a tax return is at least three years ago.
The tax return was filed at least two years ago.
The tax assessment is at least 240 days old.
The tax return was not fraudulent.
The taxpayer is not guilty of tax evasion.

18 days and 3 hours ago.

Reply

All of the above does apply to my situation. tax yr 1999,200, 2003,2004,2005,2006. How do I proceed from here?

Accepted Answer

consider speaking to a bankruptcy lawyer to evaluate which type of bankruptcy you should file a 13 or 7, a 13 should be filed if your income is above the state median and you have property such as a home, as you can keep them

Accepts:
Expert:	KUMAR PATURI ESQ
Pos. Feedback:	99.1 %
Answered:	11/5/2009

Attorney

10 years experience, UFT, UNION PLUS ATTORNEY, PARALEGAL INSTRUCTOR,

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Question

I have a large debt with the IRS. I am currently under a payment agreement but would like to get the debt settled for a lessor amt. Can youadvise me where to start. I live in Houston Texas

Optional Information

Already Tried:
nothing except talking with the IRS myself. I did do an offer in compromise that was denied.

Info Request

have you considered a bankruptcy as that may be an option.

Reply

I wasn't aqware that this was an option with the IRS

Answer

Reply

All of the above does apply to my situation. tax yr 1999,200, 2003,2004,2005,2006. How do I proceed from here?

Accepted Answer

consider speaking to a bankruptcy lawyer to evaluate which type of bankruptcy you should file a 13 or 7, a 13 should be filed if your income is above the state median and you have property such as a home, as you can keep them

Law

Have your own Legal question?

Related Law Topics:

Question

I have a large debt with the IRS. I am currently under a payment agreement but would like to get the debt settled for a lessor amt. Can youadvise me where to start. I live in Houston Texas

Optional Information

Already Tried: nothing except talking with the IRS myself. I did do an offer in compromise that was denied.

Info Request

have you considered a bankruptcy as that may be an option.

Reply

I wasn't aqware that this was an option with the IRS

Answer

Reply

All of the above does apply to my situation. tax yr 1999,200, 2003,2004,2005,2006. How do I proceed from here?

Accepted Answer

consider speaking to a bankruptcy lawyer to evaluate which type of bankruptcy you should file a 13 or 7, a 13 should be filed if your income is above the state median and you have property such as a home, as you can keep them

Related Legal Questions

Already Tried:
nothing except talking with the IRS myself. I did do an offer in compromise that was denied.