Financial Poise
Bankruptcy Intersections - Tax Law

The Intersection of Bankruptcy and… Tax Law

The issues created by the intersection of bankruptcy law and tax law are complex and marked by the tension between the fundamental goal of the federal bankruptcy laws is to give debtors a financial “fresh start” from burdensome debts and the applicable federal income tax laws. As a result, certain tax liabilities are not dischargeable in bankruptcy. Moreover, a debtor generally continues to be subject to applicable federal income tax laws and must timely file federal income tax returns and pay federal income tax.

This webinar examines the tax responsibilities of a debtor, as well as the types of tax claims and what requirements must be met for a taxing authority to have a secured, priority, or administrative claim in a bankruptcy case. This webinar also explores how taxable income becomes part of the debtor’s estate during the pendency of the bankruptcy proceeding, and how that income is taxed.

The treatment of tax attribute carryovers, alternative minimum tax considerations, and cancellation of debt income are also addressed with respect to the debtor’s potential tax liability. These tax issues can also be important factors during a debtor’s sale of assets pursuant to section 363 of the Bankruptcy Code.


Webinar Faculty

Moderator:

Jonathan Friedland
Jonathan Friedland

Jonathan Friedland, a senior partner with Sugar Felsenthal Grais & Helsinger, LLP, views his job simply: to make money for clients whenever possible and to protect their interests at every… Read More

Panelists:

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David Agler

David Agler is a Principal in Crowe Horwath LLP’s Tax Services Group. Mr. Agler practices in the area of tax planning for United States and international business transactions. He has… Read More

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Shelley Kinsella

Shelley A. Kinsella, managing shareholder at Elliott Greenleaf’s Wilmington office, focuses her practice on bankruptcy and employment law matters. She has experience in complex Chapter 11 reorganization and liquidation cases, representing debtors,… Read More

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