Tax

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.

When a sale follows a municipality's foreclosure on a tax lien, who is entitled to sale proceeds that exceed the amount of the tax lien?

The bankruptcy trustee of a bank holding company was not entitled to a consolidated corporate tax refund when a bank subsidiary had incurred losses generating the refund, Tenth Circuit held.

No one disputes that the property tax system in New York City is byzantine. In Tax Equity Now LLC v. City of New York, the First Department confronted what it viewed as a very different question: is it illegal. The court concluded that it is not, rejecting a variety of claims and leaving any reform to the legislature.

Federal courts should "turn to state law to resolve" a "fight over a tax refund," held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.).

High Court Rejects Application of Bob Roberts Rule Federal courts should "turn to state law to resolve" a "fight over a tax refund," held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.)

Is a property leased to a farming tenant a commercial property or an agricultural property? What about a building leased to a government entity? The distinction can make a difference in the tax laws that apply to the parcel.

This article provides a general introduction to social media influencers and discusses common tax issues arising on the income side of the equation. What is taxable income? What happens if the influencer's compensation is paid in equity?