How Are Taxes Treated When You File for Bankruptcy?

If you are struggling to pay the bills each month yet find yourself falling farther and farther in debt, bankruptcy may be the best long-term solution. Most individual debtors file either a chapter 13 or a chapter 7 bankruptcy. If you have significant tax debts, the way those debts are handled in the different bankruptcy […]

Types of Corporate Bankruptcy

You have worked hard to get your corporation viable and profit-making, having invested large amounts of money and time and perhaps hiring employees to realize your business dream. Unfortunately, because of the economy or other factors, your business is struggling, creditors are hounding you, and you may even have lawsuits filed against you as well […]

How are sales taxes treated in Chapter 11 bankruptcy?

Will Chapter 11 free you from the obligation of paying IRS sales tax debt? Chapter 11 Bankruptcy is a long and involved legal process which you should pursue when you have decided that your business is truly worth saving. When making this decision, you should also make certain that the amount of the debt you’ll […]