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Tax Liability Commercial Bankruptcy Internal Revenue Service

Seward & Kissel LLP

Exclusive Relationship, the Tax Man Settleth, and Meet Virginia?

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Below is our initial take on recent bankruptcy-related developments: Yellow’s Shareholders Get Desired Ruling in Delaware Bankruptcy Court - On Monday, a Delaware bankruptcy court granted Yellow Corp. a 90-day...more

Troutman Pepper

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

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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

Gray Reed

Negotiating with the IRS Collection Division

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Once the IRS makes an assessment against a taxpayer, the taxpayer will receive several notices before the IRS takes enforced collection action....more

Jones Day

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

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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

McGlinchey Stafford

Straddle-Year Tax Debts in Bankruptcy: Does the King Get Paid First? [More with McGlinchey, Ep. 14]

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The Internal Revenue Service is often a significant creditor in a bankruptcy proceeding, frequently taking priority over other creditors. In this episode, McGlinchey Tax attorney Douglas Charnas (Washington, DC) and Financial...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Chalk one up for big Carl (and Darwin).  Xerox announced this weekend that it’s bowing to Icahn’s pressures and ending its $6.1 billion combination with Fuji....more

Kramer Levin Naftalis & Frankel LLP

IRS Can Pursue “Responsible Persons” for Unpaid Trust Fund Taxes and Automatic Stay Cannot Be Used to Enjoin Collection Against...

The Puerto Rico Bankruptcy Court followed the Third Circuit in holding that the Anti-Injunction Act, which prohibits suits to restrain the assessment or collection of any tax, is not superseded by section 105(a) of the...more

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