Tax complications of bankruptcies in difficult economic times

Given the current state of the economy, it should come as no surprise that business related bankruptcy filings increased 41.6 percent and non-business bankruptcies increased 28.4 percent between June 30, 2007, and June 30, 2008, with more than one million Americans filing for bankruptcy during calendar year 2007, according to the Administrative Office of the U.S. Courts.

Filed under:
USA, Insolvency & Restructuring, Tax, Duane Morris LLP, Tax exemption, Credit card, Bankruptcy, Debtor, Tax credit, Debt, Debt relief, Title 11 of the US Code, Internal Revenue Code (USA), Internal Revenue Service (USA)
Location:
USA
Firm:
Duane Morris LLP
Legislative and Regulatory Update

Proposed U.S. Treasury and IRS Regulations Limiting Use of NOLs

Filed under:
Canada, USA, Insolvency & Restructuring, Tax, Jones Day, Internal Revenue Code (USA), Internal Revenue Service (USA), US House of Representatives
Authors:
Mark G. Douglas
Location:
Canada, USA
Firm:
Jones Day
No Time Runs against the King (IRS): The Golden Creditor Rule and its Discontents

Executive Summary

Filed under:
USA, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP, Internal Revenue Code (USA), Internal Revenue Service (USA), SCOTUS
Authors:
Robert Lemons , Alex Xiao
Location:
USA
Firm:
Weil Gotshal & Manges LLP