Tax Aspects of Bankruptcy Law and Practice, 2023-1 ed.

Tax Aspects of Bankruptcy Law and Practice includes detailed discussions of all the areas of tension between the Bankruptcy Code and the Internal Revenue Code including bankruptcy tax issues from each perspective. It offers the best way to anticipate and take advantage of the tax issues when filing and administering a bankruptcy case and provides analysis of relevant tax decisions handed down by the courts.

The text reviews the IRS' position in unresolved areas and the options available to the debtor (including dischargeability of the debtor's taxes), the debtor's insiders, and other creditors. It discusses the application of the automatic stay to tax collection efforts, setoffs, and refunds. Other topics include:

• Priorities of unsecured tax claims, interest, and other penalties under Chapters 7, 11, 12, and 13 of the Bankruptcy Code
• Chapter 11 reorganization tax issues
• Chapter 12 farm bankruptcy tax issues
• Chapter 13 individual reorganizations
• Tax consequences of abandonment of real property

It also includes the separate tax entity rules of IRC §1398 and federal tax liens both in and out of bankruptcy.