If you have found yourself in a situation where you have not filed income taxes for a while, you might have started to receive notifications from the IRS. They want their money, so they need you to file your taxes, even if you're filing old tax returns. Of course, you might be a little worried about the money you may owe and how you are going to handle paying all of it.

When filing for bankruptcy, the main options you have are chapters seven and thirteen. However, each category has its share of benefits and drawbacks. Therefore, you will need the assistance of an experienced lawyer to choose the suitable one.  While chapter seven allows you to get rid of the entire debt, thirteen enables you to pay back the debt over time. So if your business is in a state of insolvency and you are not sure which bankruptcy option will work best for you, consider hiring a bankruptcy attorney.