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BANKRUPTCY

When a Chapter 12 bankruptcy filer sells a farm, is the capital gain tax incurred dischargeable? Hall v. U.S., No. 10-875. Certiorari granted June 13, 2011. Ruling below: 617 F.3d 1161 (9th Cir. 2010).

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Justices consider if tax on farm sale is dischargeable

WASHINGTON – In a case that could have broad implications for bankruptcy filers, the U.S. Supreme Court is set to decide whether a farmer who sells his farm after filing for bankruptcy can discharge a...

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Farm sale income tax not dischargeable in bankruptcy

The federal income tax liability resulting from the sale of a farm after a Chapter 12 bankruptcy filing is not “incurred by the estate” under §503(b) of the Bankruptcy Code and thus is neither...

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Bankruptcy filings continue to decline

WASHINGTON – In a continuation of the downward trend that began in 2011, bankruptcy filings in federal courts declined during calendar year 2012, according to data released by the Administrative Office...

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