During a bankruptcy filing, many companies are able to defer paying back taxes. Along with this, many companies can delay any claims made by the IRS.
When companies file for bankruptcy, they are often in a financial position in which there may be disputes about their tax liabilities. For instance, the IRS may questions the compensation methods of a company that are meant to increase a company's assets or boost its net income.
While a company may be able to delay these disputes, it will often be forced to face the IRS once it emerges from bankruptcy. When it faces the IRS, it will either need to settle the case or face the IRS in tax court.
If your company is filing for bankruptcy and has questions about its IRS disputes, contact the Austin bankruptcy attorneys of Slater Kennon LLP at 512-338-1100.