There are a number of tax issues that debtors must deal with when they file for bankruptcy. The Bankruptcy Tax Guide course addresses such matters as tax collections under an automatic stay, the prioritization of tax claims, taxes not discharged in bankruptcy, and the tax effects of debt cancellation - all of which can impact a party that is under bankruptcy protection.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize when an automatic stay is triggered in a bankruptcy case.
Specify the correct tax reporting for a bankruptcy estate.
Identify when a bankruptcy filer should report two short tax years.
State how debts are settled in the bankruptcy of a partnership.
Major Topics
Types of Bankruptcy
The United States Bankruptcy Code
Court Jurisdiction
Federal Tax Liens
The Individual Bankruptcy Estate
Tax Effects of Debt Cancellation
