We continue to be impressed how recurring issues confront the courts to interpret the Bankruptcy Code — conflicts between bankruptcy and other federal policies, addressing the plain meaning of statutory provisions, and determining when a claim arises under the bankruptcy code.
Treatment of Straddle Year Federal Taxes in Bankruptcy Cases
When does a tax liability claim arise in a bankruptcy case? The issue was recently addressed by the U.S. District Court for the District of Delaware which ruled that federal income taxes for the year in which a debtor files for bankruptcy are entitled to priority treatment as administrative expenses when the end of the taxable year occurred after the bankruptcy petition date.
By
Andrew C. Kassner and Joseph N. Argentina Jr.
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