Chapter 13 Bankruptcy Can Stop the IRS...
Steven and Linda own a small metal shop with four full-time employees. The shop has operated
successfully for a number of years and provides  a monthly income of $5,000. Linda is a
stay-at-home mom with one child and another on the way. |
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Two years ago, an IRS audit found that an employee had failed to properly deduct and pay employee withholding taxes. With continuing interest and penalties the total tax has risen to $40,000, causing the IRS to threaten liens on real property, and the eventual closure of the business. Facing these non-dischargeable taxes, Mr. Enmark assisted Steven and Linda in creating a Chapter 13 plan that stopped the IRS from further action, and allowed Steven to pay off his obligation with no further interest or penalties. |
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