When companies file for bankruptcy, they are typically able to get out of paying many of their debts. However, they usually are still required to pay their taxes.

For many companies, this tax burden can be substantial, especially if the company has not paid all of their taxes in the past. If these taxes have not been paid, then the IRS may target the company and begin an investigation. 

If the IRS determines that the company owes taxes for previous periods, the company has a number of options. These include paying the taxes immediately or contesting the IRS's claim in court. 

If your company is considering filing for bankruptcy, contact the Austin Chapter 11 bankruptcy lawyers of Slater Kennon LLP, 512-338-1100.