6203 Bankruptcy Tax - ASOFSKY- 20576
Paul Asofsky (DIRECTOR/SUPERVISOR )
Course Areas: Taxation
Business and Commercial Law
Time: 5:30p-7:30p T Location: 144 BLB
Course Outline: Bankruptcy Tax explores the resolution of the conflicting policies underlying the bankruptcy laws and the tax laws. When should generally applicable procedures for the determination and collection of taxes by modified to accommodate the orderly administration of a debtor's bankruptcy estate? When should rules requiring taxation of debt relief be overriden in the interests of affording a fresh start? How should rules limiting carryover of corporate losses be adjusted to recognize the investment of creditors in those losses? We will carefully explore bankruptcy rules circumscribing the audit and tax determination procedures, the place of interest and penalties under the Bankruptcy Code, The tax implications of modifying debt, the exclusion of a debtor's discharge of indebtedness from gross income and the consequent reduction of his tax attributes, and the conditions for mitigation in bankruptcy of rules cutting off losses and credits when ownership changes occur.
Course Syllabus: Syllabus pdf
Course Notes: This is an LL.M class, and JD students may register, if space is available.
Prerequisites: Yes Federal Income Tax
Final Exam Schedule: 12/10 6-9pm 211 TU2
This course will have:
Satisfies Skills Course Requirement: No
Satisfies Senior Upper Level Writing Requirement: No