A COMPASSIONATE & COMPETENT ATTORNEY WORKING FOR YOU FREE CASE EVALUATION

BLOG

If you’ve struggled to keep a business open but have now decided to close it, and you owe taxes, here’s how to deal with them.

If you own a small business and are way behind on taxes to the IRS/state, Chapter 13 protects you and your business.

The IRS is just another creditor when it comes to stopping its collection action by filing bankruptcy. There ARE some sensible exceptions.

If Chapter 7 doesn’t discharge your income taxes or let you pay or settle them reasonably, Chapter 13 is often easier, cheaper, and safer.

Have your Chapter 7 trustee pay your income taxes out of the proceeds of sale of assets that you don’t need.

Are your income taxes are too new to be written off with a Chapter 7 bankruptcy? Nevertheless sometimes Chapter 7 is still your best option.

If your tax debt can meet 4 conditions, you can usually write it off with bankruptcy forever.

The two rather unpleasant-sounding topics—taxes and bankruptcy—can actually turn into a pretty good combination.

Protect your business assets right away with the “automatic stay,” and then permanently with property exemptions.

Don’t get tripped up in a rule designed to prevent bankruptcy abuse.