Insights

Blog

Can the IRS Do That? The Statutory (or Secret) Tax Lien

Steven Walker 28th April 2024

In re Rios, 649 B.R. 30 (Bkrtcy. E.D. Wis. 2023) involves the IRS “secret” or “statutory lien” under Internal Revenue Code section 6321, which attaches to “all property and rights to property” of the debtors. IRS does not need a

Bankruptcy Tax

Blog

Is the IRS Bound to What it Says? A Case Where the IRS Cannot “Eat Its Cake and Have it Too.”

Steven Walker 28th April 2024

In re Anderson, 650 B.R. 510 (Bkrtcy. W.D. Tenn. 2023), is an interesting case because the court concluded that the debtor's taxes were dischargeable in bankruptcy, and then several years later, the IRS came back and said that the taxes

Bankruptcy Tax

Publication

The Federal Tax Lien and Exemptions: Handling IRS Enforcement of Valid Tax Liens

Steven Walker May 1, 2022

This article provides advice for guiding clients that seek to discharge taxes in bankruptcy and practical guidance to help avoid common pitfalls when dealing with IRS enforcement post-discharge.

Bankruptcy Tax

Publication

Consequences of Failing to Report Federal Changes to the California FTB or Filing State Returns

Steven Walker April 1, 2022

On Oct. 14, 2021, the Ninth Circuit Court of Appeals in Berkovich affirmed the decision from the Bankruptcy Appellate Panel (BAP) that because a debtor failed to report Internal Revenue Service (IRS) tax assessments to the California Franchise Tax Board (FTB), the

Bankruptcy Tax

Blog

Staying IRS Enforced Collection Action Through Bankruptcy

Steven Walker 4th March 2022

An advantage of filing bankruptcy is that it can stop certain collection actions by the IRS. For example, suppose that a taxpayer has been under heavy fire from the IRS revenue officer for the past several years. The IRS recently

Bankruptcy Tax

Blog

Reduction of Tax Attributes under I.R.C. § 108(b)

Steven Walker 4th March 2022

A taxpayer does not always get to eat cake and keep it too. When discharge of indebtedness (other than real property business debt) is excluded from gross income, corresponding reductions must be made to the taxpayer's tax attributes. See Checkpoint

Bankruptcy Tax

Blog

Taxation of the Bankruptcy Estate

Steven Walker 4th March 2022

The taxation of the bankruptcy state is not always obvious, and below are the key highlights for debtors to keep in mind. The IRS is well versed with these rules, and running afoul can lead to tax controversy issues, such

Bankruptcy Tax