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Internal Revenue Service Commercial Bankruptcy Bankruptcy Code

The United States Internal Revenue Service is a bureau of the United States Department of the Treasury. The IRS is charged with collecting revenue and enforcing the Internal Revenue Code.  
Troutman Pepper

How Can I Claim a Business Bad Debt Deduction? - Creditor's Rights Toolkit

Troutman Pepper on

The Internal Revenue Code permits a business bad debt deduction when a customer fails to pay for the services rendered or the products supplied by your business. However, the ability to claim an ordinary deduction with...more

Nelson Mullins Riley & Scarborough LLP

A Growing Circuit Split: Does the IRS Have Sovereign Immunity from Fraudulent Transfer Claims under 11 U.S.C. § 544(b)(1)?

In a March 8, 2022 decision, the United States Court of Appeals for the Fourth Circuit issued an opinion holding, in part, that the Internal Revenue Service (the “IRS”) does not have sovereign immunity for claims arising...more

Holland & Knight LLP

Holland & Knight's China Practice Newsletter: November-December 2021

Holland & Knight LLP on

Holland & Knight invites you to read our China Practice Newsletter, in which our authors discuss pertinent Sino-American topics - HIGHLIGHTS: Preference Claims Clawbacks in Bankruptcy Can Disrupt a Construction...more

Jones Day

New Appellate Court Ruling on Priority of Straddle-Year Taxes in Bankruptcy

Jones Day on

A basic tenet of bankruptcy law, premised on the legal separateness of a debtor prior to filing for bankruptcy and the estate created upon a bankruptcy filing, is that prepetition debts are generally treated differently than...more

Rosenberg Martin Greenberg LLP

The Trustee Is Suing Me For A Transfer I Received How Many Years Ago?

Any creditor that has experienced more than a few customers or borrowers filing for bankruptcy is aware that there is a risk of being sued by a trustee to avoid transfers that the creditor received prior to the bankruptcy...more

Farrell Fritz, P.C.

Virus To Economic Shutdown To Bankruptcy? Not Necessarily, But Be Prepared

Farrell Fritz, P.C. on

Bankruptcy Resurgent? The economic shutdown, and the ensuing recession, triggered by the COVID-19 pandemic have jeopardized the survival of many businesses and, in some cases, of entire industries. Notwithstanding the...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Reorganization of the Family Farm: Recent Tax and Debt Limit Updates to Chapter 12

The past few years haven’t been so kind to farmers. It appears that this year will continue the recent trend of subpar net farm income and increasing debt levels due to several years of various detrimental factors, including...more

Mintz - Bankruptcy & Restructuring Viewpoints

Checking-In: Chapter 9, Chapter 11 or Ineligible?

Last week, President Trump unveiled his proposal to fix our nation’s aging infrastructure. While the proposal lauded $1.5 trillion in new spending, it only included $200 billion in federal funding. To bridge this sizable gap,...more

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