How to Determine if Bankruptcy is a Viable Tax Relief Option in New Orleans, LA for Resolving IRS Back Taxes

Metro Area- New Orleans-Metairie-Kenner, LA MSA

As a taxpayer in New Orleans, you should know that IRS tax debt can possibly be discharged in bankruptcy. People may file for bankruptcy for different reasons such as loss of jobs, loss of pension or due to catastrophic life event affecting their financial condition. However filing bankruptcy is a possible tax relief option to resolve your tax problems. It can be one of the most appropriate courses of action to get tax relief when you have a big IRS tax problem.

Bankruptcy is used by both individuals and businesses. Tax relief using bankruptcy can help individuals and businesses to have a fresh start. Bankruptcy is not a way to fool the system. It could be a permanent resolution for your vicious tax problems.

However, do remember that bankruptcy does not always remove all of your tax liabilities. All types of IRS taxes, interests and penalties cannot be 100% discharged. So, to get the maximum benefit from bankruptcy, you will need expert help from a bankruptcy lawyer and if it cannot get discharged contact an IRS licensed enrolled agent to settle with the IRS.

When you qualify for bankruptcy filing for discharging your tax liabilities, you get huge tax relief from the government. However, as you do not know much about bankruptcy and tax laws, only an experienced lawyer will be able to show you how to go about bankruptcy filing. With the right guidance and right track, you'll be able to qualify for bankruptcy filing and will be able to possibly eliminate your back taxes.

Get the maximum tax debt relief with the right kind of bankruptcy

There are three types of bankruptcies:

Chapter 7: It is total tax debt forgiveness and so people want it.

Chapter 11: used by businesses as a form of a business reorganization. Here you can negotiate with your creditors to restructure debts which will allow your business emerge from bankruptcy with a sustainable debt load.

Chapter 13: it is a structured payment plan. It's called a Wage Earner Plan.

Know when bankruptcy is a better option than an Offer in Compromise

The IRS's Offer in Compromise allows you a fresh start. It can be sometimes better option than bankruptcy. It allows you to reduce your tax debt, without the burden of a bankruptcy (your credit report suffers for the next 10 years).

However, it is very important to hire an Enrolled Agent, professional tax resolution specialist, to assist you in the process of negotiating your offer with the IRS because otherwise there may be many problems and you offer might get denied by the IRS.

Get expert tax help today by calling Mike Habib, EA at 877-788-2937

Tax problem resolution services, IRS tax help and tax relief services in New Orleans, Metairie, Kenner, and other cities in the state of Louisiana

Client Reviews
Mike has given us peace of mind! He helped negotiate down a large balance and get us on a payment plan that we can afford with no worries! The stress of dealing with the IRS is huge and Mike helped us through it all. The peace of mind is invaluable, thank you Mike! April S.
Mike Habib - Thank you for being so professional and honest and taking care of my brothers IRS situation. We are so relieved it is over and the offer in compromise process went just as you said. Mike is very professional and will give you honest answers to the OIC process and you can really trust him. You won't be sorry you chose him! Joe and Deborah V.
Mike is a true professional. He really came thru for me and my business. Dealing with the IRS is very scary. I'm a small business person who works hard and Mike helped me see that they are not that scary after all. He was always there with the answers I needed and was very good about calling me back which I appreciated since your first reaction is to freak out and ask a million questions. He solved a messy case and worked very hard to resolve it. His rates are VERY reasonable for the amount of work he does! I give him my highest recommendation! Marcie R.
Mike was incredibly responsive to my IRS issues. Once I decided to go with him (after interviewing numerous other tax professionals), he got on the phone with the IRS immediately (as in the same day I signed with him) to squash an impending issue. And he worked directly with them to quickly come to a resolution I am very happy with. I'd highly recommend reaching out to Mike to see if he can help you with any IRS issues. I'm very satisfied! Marshall W.
I’ve seen and heard plenty of commercials on TV and radio for businesses offering tax help. I did my research on many of them only to discover numerous complaints and unresolved tax issues. I found Mike Habib through my own online search and contacted him. He was very professional with great communication, always answering my questions and concerns. Mike resolved my complicated tax problem just as he said he would. I would definitely recommend his services to family and friends. Nancy & Sal V.