Bankruptcy Mastery

Becoming a better bankruptcy lawyer

  • Home
  • About Cathy
  • Contact Cathy
  • Articles by Topic
    • Attorneys fees
    • Bankruptcy Practice
    • Before filing
    • Business bankruptcy
    • Cases new & significant
    • Counseling clients
    • Family Law in Bankruptcy
    • Means test
    • Opinionated
    • Real property
    • Rule 3002.1
    • Tax
  • Table of Contents
  • Start Here

Finding the Flaws in IRS Tax Liens

By Cathy Moran, Esq. Filed Under: Tax

tax liens

Tax liens in bankruptcy sometimes don’t stand up to close scrutiny, to the delight and profit of bankruptcy debtors. I was reminded of two such instances by the excellent presenters at the NACBA 2021 Workshop. Lien perfection follows state law The secret tax lien attaches to all of a taxpayer’s property of any kind, wherever […]

Filed Under: Tax

Taxes & Timing: Calculating Outcomes for Bankruptcy Debtors

By Cathy Moran, Esq. Filed Under: Tax

bankruptcy tax refund

Bankruptcy lawyers regularly evaluate the dischargeability of taxes when deciding when to file a client’s bankruptcy case. At base, the 3 year rule, the 2 year rule, and the 240 day rule routinely drive timing of a bankruptcy. But as we approach the end of the tax year, a client’s current year tax situation becomes […]

Filed Under: Tax Tagged With: 2019

Crushing Tax Change For Injured Consumers

By William Purdy Filed Under: Bankruptcy Practice, Opinionated, Tax

tax change damages

The “Tax Cut Act” actually increased the tax on consumer recoveries.  Under the new tax law,  most damage awards a consumer recovers stand to go, in large part, to the IRS. So even if you are successful in vindicating your legal rights, the expenses of getting the award aren’t deductible from the gross award. The […]

Filed Under: Bankruptcy Practice, Opinionated, Tax Tagged With: 2018

Juggling in Defense of the Tax Refund

By Cathy Moran, Esq. Filed Under: Before filing, Tax

protecting tax refund

As long as clients use tax withholding as a form of savings account, bankruptcy lawyers will have to juggle to protect that refund when bankruptcy looms. Limber up, and let’s look at a fact pattern I faced with a December client who needed to file, but faced no immediate crisis. The point for analysis was […]

Filed Under: Before filing, Tax

Tax Traps 1095 Days Out

By Cathy Moran, Esq. Filed Under: Tax

discharge 2019 taxes

When it comes time to discharge 2019 taxes in bankruptcy, the IRS has laid a trap. The trap snaps shut three years (or 1095 days) from now. At that point, the familiar three year rule for tax dischargeability won’t be so simple. Between Covid, wildfires, and hurricanes, the IRS has unilaterally extended tax filing deadlines. […]

Filed Under: Tax

Tax Audit Aftermath-Did You Tell The State?

By Cathy Moran, Esq. Filed Under: Tax

discharge taxes

One of the bedrock requirements of the discharge of taxes in in bankruptcy is the requirement to have filed a return. No return, no discharge of that year’s taxes. But it gets more nuanced:  in California, when the feds audit the debtor and change any of the elemental figures in a filed return return, the taxpayer […]

Filed Under: Tax Tagged With: 2017, tax audit

Taxing Questions in Bankruptcy’s New Subchapter V

By Steven Walker Filed Under: Bankruptcy Practice, Tax

SBRA tax questions

With the enactment of the Small Business Reorganization Act, Chapter 11 is expected to become more accessible and economic for business debtors with debts below the limits. For bankruptcy lawyers taking their first venture into Chapter 11, knowledge of the tax issues in reorganizations becomes critical. So, I’m happy to have attorney Steven Walker of […]

Filed Under: Bankruptcy Practice, Tax Tagged With: 2020

Next Page »

[footer_backtotop]

Copyright © 2023 ·Prose · Genesis Framework by StudioPress · WordPress

Theme customization by Rowboat Media LLC