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Fall 2009
5297 Bankruptcy Tax - ASOFSKY- 33556
added- 3-16-09; time/day added 3-24-09

Professor(s): Paul  Asofsky (ADJUNCT)

Credits: 2

Course Areas: Taxation 
Business and Commercial Law

Time: 5:30p-7:30p  M Location: BLB 213 

Course Outline: This course examines the common tax problems of debtors in bankruptcy and other financially troubled taxpayers, with emphasis on corporations in chapter 11. We necessarily study the substantive tax rules governing debt restructuring set forth in the Internal Revenue Code and the related Income Tax Regulations, but also those that appear in the Bankruptcy Code and Rules. The impact of the Bankruptcy Code’s procedures on the determination and collection of tax liabilities is central to the course.

Students must have a basic grounding in Federal income tax as a prerequisite for the course. A student who has completed a course in corporate tax will have some advantage, but we will go slowly enough through the corporate issues so that any student giving it the appropriate time and attention will not be lost. Also, although a basic bankruptcy course would be useful, we will impart those bankruptcy principles necessary for a tax professional to give contextual advice.

Because much of this material will be new, preparation for class is essential. So is classroom participation. The development of ideas in the classroom will bring together the two different disciplines in a meaningful way. There will be occasional brief lectures to contain the amount of assigned reading, but a student who does not actively participate will deprive both himself and his peers of the full benefit of the course.

Course Syllabus: Syllabus

Course Notes: This is an LL.M class, and JD students may register, if space is available.  

Prerequisites: YES  Federal Income Tax

First Day Assignments: AVAILABLE IN THE UH LAW CENTER COPY CENTER

Assignment – Class 1 – August 24, 2009 – 5:30 PM
Assigned reading—All

1. Corporate Bankruptcy, sections 1A-D (approximately six pages)
2. Bankruptcy Code §§ 541, 547
3. Internal Revenue Code §§ 6672, 7501
4. Begier v. IRS, 496 US 53 (1990)
5. Quattrone Accountants, Inc. v. IRS, 895 F.2d 921 (3d Cir. 1990)

Final Exam Schedule: 12/14 6 - 8 pm  3 BLB  SAME  

This course will have:
Exam:
Paper:

Book Requirements:

• (8/5/2009 4:17:43 PM) Title: BNA Tax Management Portfolio 790
  Author: NA
  Edition:  Year:  ISBN:  Publisher: NA
  Photocopied Materials - Available from the UH Copy Center 
• (8/5/2009 4:17:33 PM) Title: Bankruptcy Code Rules and Official Forms
  Author: NA
  Edition: Law School edition Year: 2009 ISBN: 9780314191458 Publisher: West
  Photocopied Materials - Available from the UH Copy Center