Tax Relief and Chapter 11 Bankruptcy

Chapter 11 allows all individuals and businesses with pressing tax problems to immediately stop collection processes and obtain the breathing room to produce successful tax repayment plans in accordance with the client's income and ability to repay.

 

At the Law Offices of Neil Crane, LLC, we have been successfully reorganizing businesses, helping individuals with overwhelming financial problems and assisting with all forms of tax debt since 1983. We pride ourselves on the hard work and commitment that has provided our clients with one of the highest success rates of any firm of any size throughout Connecticut. Our dedication to detailed analysis, comprehensive preparation and client awareness has proven to be the critical elements to producing successful Chapter 11 plans over three decades of legal practice.

To speak with an attorney about your tax debt and the solutions available to you, contact our firm online to schedule a free consultation.

Classification and Treatment of Taxes in Chapter 11

Chapter 11 tax relief is available to all individuals and businesses of any size. All collection actions are stopped and no consent of local, state or federal tax collectors is required. We can help you understand how various tax debts are treated and discharged in Chapter 11 such as:

  • Individual state and federal income taxes are subject to dischargeability/elimination for older qualifying taxes and repayment at favorable rates without further penalties or late fees over a five-year period.
  • State and federal payroll taxes are subject to the automatic stay of Chapter 11 and payable over a five-year period at reduced interest rates without penalties or further late fees by right. These "unimpaired" tax repayment schedules do not require the vote or consent of the applicable tax authorities.
  • State sales taxes are subject to favorable repayment terms over time in accordance with the petitioner's available income over expenses. This allows businesses to remain open while repaying taxes at favorable terms and interest rates without further penalties or late fees.
  • All other taxes are subject to elimination or repayment under the terms of Chapter 11 protection. This includes local business and equipment taxes as well as town real estate taxes.

Regardless of the size of your personal or business tax problem, Chapter 11 can provide full and comprehensive relief for personal and business taxes of all types to all federal, state and local taxing authorities without consent, without exception.

Contact a Chapter 11 Bankruptcy Lawyer About Tax Debt

To understand how Chapter 11 may be right for your small business or individual tax problems, contact us online or call us at 203-230-2233 or toll free at 888-249-3027. We offer free initial consultations. We have office locations in Hamden, Bridgeport, Ridgefield, Waterbury and Rocky Hill.

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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.