Does your business owe thousands of dollars to the IRS for either corporate, payroll or sales taxes? 

When a business falls behind on its bills, the situation can become far more complicated very quickly, often involving more than just debt owed to banks and employees: businesses in this situation frequently also owe money to the IRS. If you own a small business and face unmanageable debt, you need skilled financial and legal counsel to help your business get back on its feet. During a financial crisis, you don’t want someone selling a cookie-cutter solution; you want an experienced attorney who is focused on creating the best custom strategy to ensure a positive outcome for you, your family, and your business.

 

Business bankruptcy law is a powerful tool that works in your favor–if you know how to use it.

EZ Business Bankruptcy and IRS Solutions has been helping businesses deal with their financial issues for over 20 years. EZ Business Bankruptcy and IRS Solutions is accustomed to working with companies that struggle with debt reduction, debt consolidation, financial restructuring, and bankruptcy. EZ Business Bankruptcy and IRS Solutions looks at your business’s unique financial situation including taxes due, payroll liabilities, assets, and business liabilities in order to determine how to best handle your business’s financial situation.

At EZ Business Bankruptcy and IRS Solutions, we are concerned with the care of our clients. We aim to provide you and your business with the respect, consideration, and professionalism that you want and deserve. With our no cost, no obligation consultation, we will provide you with several options to find the best solution for you, the solution that will get your financial life back on track.

Listed below are several options your business may want to consider:

  • Chapter 11 Business Reorganization provides protection from creditor collection activity while the business implements a debt repayment plan approved by the businesses creditors and the Court.  The business may continue to operate and earn revenue during Chapter 11 proceedings.
  • Chapter 7 Corporate Bankruptcy Debt provides business owners with the opportunity to shut down a struggling business in a cost effective and efficient manner, with paying little to no corporate debt back to creditors, and delivering closure to business owners.
  • Debt Settlements provides businesses with the opportunity to settle debts with creditors rather than going through the bankruptcy court.  If the business owner wishes to remain in business, this option allows businesses to negotiate a manageable debt repayment plan with their creditors that place the business on the road to financial solvency.

EZ Business Bankruptcy & IRS Solutions is here to help you explore all your options and to provide you with the best, customized, legal and financial advice.

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.