About This Program
Help Clients Make Informed Decisions and Avoid Malpractice.
Most bankruptcy attorneys know that older, unsecured income taxes can be discharged in a bankruptcy, depending on the amount of time that has passed since certain events occurred in the life of that debt. Filing too early means some or all of the tax debt won't be discharged.
Important Failure to properly account for all 5 tests and the impact of any of the 3 Tolling Events can give rise to a malpractice claim!
The Tax Discharge Determinator makes it easy for you to inform clients about how long they have to wait to file bankruptcy in order to discharge their tax debts. No pouring over manual calculations, memorizing formulas, or leaving yourself exposed to human error. For just a few dollars, you can save time and rest easy in the reliability of the results.
Armed with accurate information, your clients may decide to enter into a repayment agreement with the IRS until the time needed for discharge has passed; or they may decide not to wait for debts to be dischargeable. Either way, you are protected from malpractice claims because you provided accurate information. Of course, this program is not intended to be, and shall not be considered to be, the rendering of legal advice. This program is intended to help the bankruptcy professional with the applicable rules (so none are missed or forgotten) and calculations (so as to avoid "counting" mistakes).
A New Profit Center
If you're not already charging a premium for advising when and whether tax debts are dischargeable, this tool can build a new revenue stream for your business. Many attorneys charge $100 to $500 per tax year analyzed, and sometimes as much as $5,000 if the debtor owes hundreds of thousands of dollars. Get in on this money maker now!