On Behalf of developers | March 22, 2026 | Bankruptcy,Chapter 13 Bankruptcy,Chapter 7 Bankruptcy,Debt Relief
If you’ve been struggling with overwhelming tax debt, there are solutions available to ease the burden. In our previous blog, Pond Law Firm filled you in on some of the bankruptcy solutions that can resolve tax debt. For a knowledgeable and experienced team to help you navigate this complex process, Pond Law Firm is here for you. We offer expert bankruptcy guidance to residents across Mississippi, as well as assisting with bankruptcy filings, foreclosure, medical debt, wage garnishment, repossessions, and any other burdensome financial situation.
There are various other solutions for both Mississippi State and federal tax debt that you may want to explore.
Installment agreements for individual tax debt: For individuals, 12-month plans are available to repay your tax debt in a scheduled, court-approved year-long plan. This is only available if your filing was timely and you have a steady income with which to pay the installment.
Business payment plans for tax debt: If you owe back taxes on a business in Mississippi, there are Mississippi tax solutions that require a 33% down payment and a repayment plan spanning 6 months. If you can prove an inability to pay over the 6 months, longer terms may be negotiated. Additionally, you can put forward a petition to stop accruing interest and additional penalties during your repayment plan period.
There are also various debt solutions for Federal tax debts for Mississippi residents.
Fresh Start program: In this solution, you can work with the court to arrange paying specific installments. If you are eligible for such a program, you can often rely on penalty abatement during the repayment period.
Offer in compromise (OIC): This program settles tax debt for less than the full amount that you owe. If you can demonstrate significant financial hardship and provide proof accordingly, the courts will work with you to reduce the total amount you owe to a more manageable sum.
Currently not collectible: In some situations, you may be able to pause collection efforts with a demonstration of progress toward payment, progress toward filing a bankruptcy case, and such actions that you are working on. A good bankruptcy lawyer, like those at Pond Law Firm, can
There is a reason why people across Mississippi trust attorney Michael Pond. When we work with you, we look at your case from a legal perspective as well as from a Consumer Financial Services sector background. We take the time to analyze your specific situation, pulling your specific tax transcripts and analyzing every aspect to find the best solution. Then, together, we determine the timing and plan that will work best to address your debt. Every part of the process involves you and your wishes, protects your best interests, and keeps in mind your specific goals and objectives. We can also take a look at the broader picture of your financial situation to provide experienced guidance and direction in moving forward after your debt resolution.That way, when your bankruptcy is resolved, you have a fully clean slate and a bright future.
Contact Pond Law Firm for the compassionate, experienced, and knowledgeable tax debt relief support in Mississippi that you deserve. We are standing by, ready to help you pave the way to a smooth financial future.