Learn about how to resolve financial matters including bankruptcy and tax debt with the help of Goren & Tucci, LLC, a Maryland bankruptcy law firm with more than 40 years of combined experience.
Bethesda, MD -- (ReleaseWire) -- 04/15/2016 --One of the most pressing financial concerns for many individuals, particularly in the early springtime each year, is that of taxes. When a significant amount of money is owed, it's easy to begin losing control. Tax debt and bankruptcy are therefore commonly interlinked, however, Goren & Tucci, LLC knows how crucial it is that prospective clients are fully informed about what this entails, what is possible, and what remains undoable even with filing for bankruptcy.
"Certainly this is one of the most common questions and issues that our clients face this time of year. Yet, many often misunderstand what the possible outcomes are in such matters," says Robert K. Goren, Esq., one half of the Maryland bankruptcy law firm Goren & Tucci.
"Depending on the specific circumstances, federal and state taxes can be discharged, or eliminated, either in full, or in part," adds experienced Maryland bankruptcy attorney Brian A. Tucci, Esq.
Discharging tax debt involves the interplay of several factors. However, when certain conditions are met, then tax debts actually can be discharged. Moreover, other debts can of course be discharged during such proceedings. Bankruptcy is a tool that can provide relief from crippling tax debt.
Filing chapter 13 bankruptcy allows a debtor to create repayment plans. Depending on the circumstances, even if taxes cannot be discharged, Chapter 13 can be used to repay taxes without interest or penalties over as long as 60-months.
Filing for bankruptcy also provides other benefits, such as the automatic stay, which will stop the taxing authorities from garnishing wages or seizing bank deposits and other assets.
Goren & Tucci, experienced bankruptcy attorneys in Maryland with more than 40 years of combined experience, can help advise prospective clients struggling with tax debt on the best course of action given the specifics of their situations
Don't take action without first consulting with an attorney who may be able to help. Visit GorenTucciLaw.com for more information, or call the firm at 301.977.4300 to schedule a free consultation.
About Goren & Tucci, LLC
Goren & Tucci LLC, is dedicated to providing real solutions for individuals and businesses who are facing financial difficulties or burdens of any variety. They are a full-service bankruptcy firm attorneys Robert K. Goren and Brian A. Tucci, who have a combined 40 years of bankruptcy experience. The firm provides debt relief services, and helps individuals and businesses file for bankruptcy. All aspects of debtor representation are provided, including bankruptcy litigation, filing Chapter 7, 11 & 13 bankruptcy, and non-bankruptcy solutions, alternatives and services. Call 301.977.4300, or visit GorenTucciLaw.com for more information.