By Steven L. Walker, Esq. (San Jose, CA) Subchapter V of the newly amended Bankruptcy Code is silent on the question as to whether the debtor-in-possession, or the court appointed trustee, must file the entity’s income tax returns on Form 1065, Form 1120, or Form 1120S. Although the IRS also has not issued any formal guidance, answers can be found...
From the Editor – Discharge and Dischargeability
Print This Article
Link to Post:
By The Honorable William Houston Brown (Retired)
Late-filed state income tax returns qualified as “returns” for discharge. Interpreting BAPCA’s hanging paragraph definition of “return,” § 523(a)(1)(B) excludes from discharge those tax liabilities for which a return was never filed, but this debtor filed returns, albeit late, and there was no contention that the state prepared returns for the taxpayer. Under Massachusetts state law, a “return” was defined as a “taxpayer’s signed declaration of the tax due, if any, properly completed by the taxpayer or the taxpayer’s representative on a form . . .
It looks like you are not signed in or registered! This content is only available to members.
Or Sign In Below:
Related Articles
From the Editor – Curing Default
Max’s Knowledge Nugget
From 5 Divisions to 4 Grandchildren, 3+ pets, 2 Hobbies and 1 Private Practice: The “Retirement” of Robert Wilson
I Feel A Change Coming On (Song by Bob Dylan, 1964)
Small Business Reorganization Postscript 2
ABI Commission on Consumer Bankruptcy – What Does It Mean to Surrender?
I Win. I Win. Trustee Holds Record for Having the Oldest Open Chapter 13 Case
Conflicting Interpretations: A Chapter 13 Trustee’s Compensation After Pre-Confirmation Dismissal or Conversion – Part 2 of 3
Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG
Who Files the Tax Returns Under SBRA