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Tuesday, December 4, 2012

Bankruptcy Court's Ability to Determine Tax Liability.

While it has not often been utilized, bankruptcy courts have been given limited jurisdiction under Section 505 of the bankruptcy code to determine the amount or legality of any tax, with certain limitations. This includes the ability of the bankruptcy court to reduce property tax assessments for prior years. Nevertheless, this jurisdiction has been strictly limited by the BAPCPA amendments which require that the challenge be made “timely.” 11 U.S.C. § 505(a)(2). The majority of bankruptcy decisions have concluded that Bankruptcy Code § 108(a) can provide no relief in extending that time limit for bankruptcy cases. 5-11-bk-05550-JJT_Airport__5-11-ap-00244-JJT_Ray

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