EZ Business Bankruptcy and IRS Solutions looks at all aspects of the financials for your business including taxes, payroll, assets and debts without haste or rush to a cookie cutter solution. EZ Business Bankruptcy and IRS Solutions is accustomed to working with companies with IRS tax issues, complicated debt consolidation, financial restructuring, and business bankruptcy issues. These can affect all aspects of your life sometimes leaving clients in divorce and personal bankruptcy. EZ Business Bankruptcy and IRS Solutions doesn’t mean we take an easy route. EZ is our initials for Eric Zelazny. We often take the longer path to a solution that allows the client the best case scenario for starting over.
The law is written to help you. It is not written to help the IRS, it is not written to help your creditors. It is written to give you (and possibly your business) a new start. Bankruptcy can reduce your debt. But just reducing your debt does not necessarily give you the new start you need to move on with your life. It takes a strategy and a plan to get an outcome that allows you to begin again.
The complexities of bankruptcy law can lead lawyers to be overly conservative—at your expense.
While the law is on your side, the bankruptcy process, especially business bankruptcy, is complex. There are several solutions available to handle business and personal debt problems. The best path is often the longer path, which can lead some lawyers to want to take a
“shortcut, fast money solution” which serves themselves leaving you, the debtor, without a “start over” strategy. Something as simple as when you file, can make a dramatic difference to your benefit.
Often during the path to bankruptcy, the company’s books get messy making it difficult to decipher where the company stands financially. If the company is still operating, employees and vendors add additional pressure to the situation. Accounting issues may have been one of the culprits of current issues. Having a lawyer who is also a CPA can help you through a difficult accounting problem.
If you have IRS debt the need for speed can be amplified. As the demanding letters start coming, the pressure to settle becomes intense.
If your business debt is becoming unmanageable, let us help you. With one call you will have the legal help you need to stop collections calls and much more.
For over 20 years the EZ Business Bankruptcy and IRS Solutions, have been helping businesses, from sole proprietors to those owing millions in debt and all with their unique financial issues.
Staring with our first no cost, no obligation consultation, we will consider several options to find the best choice for your situation, including:
- Chapter 11 Business Reorganization provides protection from creditor collection activity while the business implements a debt repayment plan approved by the court. The business may continue to operate and earn revenue while going through Chapter 11.
- Debt Settlements: There are times when it is better to settle your business debts directly with your creditors rather than go through the bankruptcy courts. If this is your best option, we can negotiate a manageable debt repayment plan that will put your business on the road to financial solvency.
See how we knocked down an $800,000 IRS debt to $10,000
Business IRS Issues: When businesses face financial trouble, they often end up owing back taxes as well. Debts to the IRS and Illinois Department of Revenue are often the most difficult to settle. We put our two decades of financial and legal experience to work to negotiate with these agencies toward reaching the most favorable settlements possible for our clients.
Chapter 7 Debt Liquidation: Entrepreneurs that have a sole proprietorship may be able to file a personal Chapter 7 bankruptcy to liquidate their debts and continue business operations. However, when a partnership, LLC or corporation files for Chapter 7, the business must cease operations and the assets are liquidated to cover as much debt as possible. This might be the right option if you intend to close the business. However, if you want to keep the business running, a better option may be Chapter 11. EZ Business Bankruptcy & IRS Solutions will help you explore all of your options.