Owing taxes to the government, especially if they have accumulated over the years, can leave Arizona debtors feeling not only overwhelmed by their obligation but also scared. Without the current resources to pay taxes and with no real viable hope of drastically increasing income to pay taxes, they may not know what to do about their financial situation.
As discussed previously on the Mesa Bankruptcy Law Blog, declaring bankruptcy is one of the options available to discharge taxes. Though certain restrictions apply, there are certain income taxes that are eligible for discharge through bankruptcy. Taxes that are more than three years old can be wiped out, provided it has been two years since the debtor has filed a tax return.
It is not easy to decide whether to file for bankruptcy or not, but bankruptcy lawyers at our firm offer personalized assistance to help Arizona residents decide what is best for them. One solution does not fit all, and recognizing that, lawyers at our firm work with debtors and listen to what they want. Also, we try to come with not only an effective solution but also a quick one, as we realize the sooner Arizona residents are debt free the happier they can be.
Arizona residents should rest assured they do not have spend the rest of their lives making ends meet and struggling. One of the ways they can get a fresh start on their finances is by declaring bankruptcy. Lawyers at our firm can also help them with the paperwork and ensure everything goes as smoothly as possible so debtors can quickly begin their financial and emotional recovery.
Those seeking debt relief may not fully understand how to initiate the process. Our firm's bankruptcy overview is a starting point that could help debtors acknowledge all the options available to them. This will ensure they are knowledgeable about the process and protect their rights as they move forward with the process.