Bankruptcy Taxation

This panel focuses on material tax issues that every bankruptcy attorney should know that can impact both estate administration and bankruptcy plans. The panelists highlight issues that should be considered when a company is considering filing for bankruptcy or is in bankruptcy, such as tax attribute planning and preservation, management of COD income in connection with liability management transactions, “significant modification” of debt and how to minimize consequences, the considerations if the debtor is a partnership or a corporation, associated state tax issues, and key tax return compliance implications.

Learn about the hot buttons, goals and objectives of state and federal taxing authorities in the zone of insolvency during this lively session.

Learn about the hot buttons, goals and objectives of state and federal taxing authorities in the zone of insolvency during this lively session.

Sponsored by Baird Holm LLP

Cancellation of debt income (CODI) will be one of the largest post-COVID-19 issues for consumers, businesses and business owners. This session will explain what happens when cancellation of a debt generates taxable income, and the resulting effects on the taxpayer and equityholders. Attendees will leave with a better understanding of whether they should counsel their clients to file bankruptcy.

Hosted by The Legislation Committee Given the huge increase in filings lately and the increase in the debt limit after the passage of the Family Farmer Relief Act, the webinar would like to provide more information to consumer and small business lawyers who might be interested in expanding into Chapter 12 practice.

The Supreme Court has handed down three rulings during its current term that impact bankruptcy practice: The Supreme Court ruled unanimously on January 14 in Ritzen v. Jackson Machinery that an order denying a motion to modify the automatic stay is a final, appealable order “when the bankruptcy court unreservedly grants or denies relief.” In a per curiam opinion on February 24 in Roman Catholic Archdiocese of San Juan v. Acevedo Feliciano, the Supreme Court has banned the term “nunc pro tunc” from the bankruptcy lexicon. The Court also ruled that a state court altogether lacks jurisdiction in a removed action until the case has been formally remanded. The Supreme Court ruled on February 25 in Rodriguez v. Federal Deposit Insurance Corp. that federal courts may not employ federal common law to decide who owns a tax refund when a parent holding company files a tax return but a subsidiary generated the losses giving rise to the refund. A panel of distinguished bankruptcy experts will discuss each of these cases to provide you with insights for your practice.

The 2017 Tax Cuts and Jobs Act made significant changes to the Internal Revenue Code. This panel will discuss certain tax changes that may adversely affect financially troubled business operations, debt restructurings, reorganizations and liquidations.