Critical Case Comment

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Extensions of CARES Act Provisions By COVID-19 Bankruptcy Relief Extension Act of 2021

The CARES Act, Public Law 116-136 had amended several parts of the Bankruptcy Code, but included sunset provisions terminating March 27, 2021. The COVID-19 Bankruptcy Relief Extension Act of 2021, H.R.1651, passed by the House and Senate and signed by the President on March 27, 2021, extended some provisions for another year.

Section 1113 . . . → Read More: Extensions of CARES Act Provisions By COVID-19 Bankruptcy Relief Extension Act of 2021

Practice Pointers for Arguing Motions

By William Sawyer, Chief U.S. Bankruptcy Judge for the Middle District of Alabama (Montgomery) (Used with permission. Court News and Views, Volume 18, October 2020)

Lawyers who practice regularly in bankruptcy court invariably make many appearances at motion dockets. This article provides practice pointers to lawyers who do not practice often in this Court . . . → Read More: Practice Pointers for Arguing Motions

ZOOM – Instructions/Directions from the Office of Ronda Winnecour, Standing Chapter 13 Trustee*

(Items in italics have been added by Academy staff)

. . . will be held virtually by ZOOM . . .

Please visit our website at ch13pitt.com (this site has very detailed directions) for all of the details and instructions. A computer is not a necessity since ZOOM also allows participation by telephone (iphone, . . . → Read More: ZOOM – Instructions/Directions from the Office of Ronda Winnecour, Standing Chapter 13 Trustee*

Covid-19 and the 7 Year Plan

By Ken Siomos, Staff Attorney for Marsha L. Combs-Skinner (Newman, IL)

A small part of the recently passed “Cares Act” is the ability of Chapter 13 debtors experiencing a “material financial hardship” as a result of the covid-19 pandemic to modify their plan to 84 months.i Many Chapter 13 Trustee’s are likely anticipating a . . . → Read More: Covid-19 and the 7 Year Plan

Bulletin: SBRA Postscript, the Definition of Income, and Changes to Section 1113(b)(1)(B) and (C)

BULLETIN

SMALL BUSINESS REORGANIZATION ACT POSTSCRIPT

CARES Act Passed by Senate Increases Eligibility to Small Business Debtors with Aggregate Debts Up to $7,500,000 And Other Changes

Early last Thursday morning, the Senate passed a substitute for H.R. 748, called the “Coronavirus Aid, Relief, and Economic Security Act” (the “CARES Act”). The . . . → Read More: Bulletin: SBRA Postscript, the Definition of Income, and Changes to Section 1113(b)(1)(B) and (C)

Evidentiary Issues Arising from Attempts to Prove Alleged “Facts” Stated in The Monster Mash

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Chapter 12 and Act2/Conference Update

By Rebecca Garcia and Jan Sensenich, Chapters 12 and 13 Standing Trustees

The Association of Chapter 12 Trustees (ACT2) had a wonderful day and a half conference in advance of the NACTT Seminar on July 15 and 16 in Indianapolis. In addition to Trustee participants, we had judges, debtors, and creditors counsel and representatives . . . → Read More: Chapter 12 and Act2/Conference Update

IRS Attempting to Collect on Virtual Currency

IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts.

On July 26th, the IRS announced that it has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual . . . → Read More: IRS Attempting to Collect on Virtual Currency

Members of the Armed Forces Are Entitled to Certain Tax Benefits

Members of the military and their families often qualify for special tax benefits. For example, members of the armed forces don’t have to pay taxes on some types of income. In addition, special rules could lower the tax they owe or allow them more time to file and pay their federal taxes. Here are . . . → Read More: Members of the Armed Forces Are Entitled to Certain Tax Benefits