Arizona

IRS Debt Blog

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By Michael S. Anderson of Anderson Tax Law logo for Arizona tax attorney Michael S. Anderson P.C.
  • TAX DEBT? YOU HAVE OPTIONS

    Tax Debt?  You Have Options The following is a list of the most common legal ways to deal with large IRS tax debt. Some are obvious, some are difficult and require extensive planning and some only work best in combination with another option. Despite the fact that a review of the list alone won’t solve…

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  • Can Chapter 7 Bankruptcy Help With My IRS Debt?

    Chapter 7 bankruptcy is designed to provide a fresh start for people who have made some honest financial mistakes and don’t have money left at the end of the month to pay creditors.   People use Chapter 7 Bankruptcy to deal with medical bills, business related bills, and credit card bills.  They also use chapter…

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  • Is bankruptcy the only way to eliminate tax debt?

    Bankruptcy can be a powerful tool in dealing with serious tax debt.  It can wipe away certain types of tax debt based on income, employment, transaction privilege, penalty and interest and we use it to help clients get rid of millions in tax debt. BUT…it isn’t the only way to get rid of tax debt…

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  • Chapter 13 Bankruptcy

    Bankruptcy – About Chapter 13 A chapter 13 bankruptcy is commonly referred to as a “wage earner” bankruptcy. In Arizona less than 25% of all consumer bankruptcy cases filed are originally filed as chapter 13 bankruptcy cases. Chapter 7 bankruptcy and Chapter 13 bankruptcy filers have the same goal, the legal discharge of as many…

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  • Tax Debt – 6 Common Reasons Bankruptcy is Used

    No matter what you have heard, a bankruptcy filing, motivated by tax debt, is a common occurrence. The reason is obvious. There can be significant benefits to filing bankruptcy. 6 of the most important potential benefits are as follows: 1. The Automatic Stay “Automatic Stay” is the common term used to describe that section of…

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