Chapter 11 Plan Confirmed Reducing I.R.S. Debt
After unsuccessfully attempting to negotiate with the I.R.S. outside of bankruptcy, a used car dealer turned to the Law Offices of Michael H. Raichelson in that he felt he had been backed into a corner. After filing a Chapter 11 bankruptcy, Michael H. Raichelson was able to secure an agreement with the I.R.S. reducing the principal, interest and penalties owed to the I.R.S. from over $900,000 to $150,000 spread out over seven years.