Chapter 11 bankruptcy applies primarily to large businesses and corporations. They allow the business or corporation to have an extended time period to reorganize and pay back its outstanding debts, including those to the IRS.
Only a person that may be a debtor under chapter 7 of this title, except a stockbroker or a commodity broker, and a railroad may be a debtor under chapter 11 of this title.
-- United States Code, Chapter 1, Sec. 109