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Full-Text Articles in Tax Law

Income Tax Claims In The Year Of Bankruptcy: A Congressionally Created Quagmire, Gregory L. Germain Sep 2005

Income Tax Claims In The Year Of Bankruptcy: A Congressionally Created Quagmire, Gregory L. Germain

ExpressO

How is the government's claim for income taxes incurred by a debtor in the year of bankruptcy treated? Is the government's tax claim entitled to priority as a first priority expense of administration, even though part of the year's taxes was incurred prepetition? If not, is the claim entitled to eighth priority under its special rule for tax claims? The courts did not reach consistent results on these questions prior to the 2005 Act. The courts agreed that the government's claim for pre-petition taxes should not be entitled to administrative expense priority, but differed on whether the claim was entitled …


Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor Sep 2005

Breaking The Bank: Revisiting Central Bank Of Denver After Enron And Sarbanes-Oxley, Celia Taylor

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No abstract provided.