We solve problems with Negotiation, Litigation, Mediation & Arbitration.

  1. Home
  2.  » 
  3. Firm News
  4.  » Small Businesses With Tax Problems Have Another Option

Small Businesses With Tax Problems Have Another Option

| May 28, 2020 | Firm News

If you have a small business facing tax problems, threats of levies or garnishments by the IRS or the GA Department of Revenue, you may have another new option to consider.  There is now a Subchapter 5 under Chapter 11 bankruptcy law that allows for a bankruptcy stay while you reorganized, that may allow you to keep your business open.  See Small Business Restructuring Act article – https://www.nytimes.com/article/small-business-bankruptcy-coronavirus.html.  This option is worth considering if you have creditors that refuse to cooperate in dealing with debts.