Major Development in Income Taxation of Chapter 12 Bankruptcy Debtors Harl, Neil Peiffer, Joseph
dc.contributor.department Iowa State University Digital Repository 2018-02-19T04:06:05.000 2020-06-29T22:55:58Z 2020-06-29T22:55:58Z 2017-11-27 2009-10-09
dc.description.abstract <p>The Eighth Circuit Court of Appeals,<strong>1 </strong>on September 16, 2009, handed down a decision in the long-running battle between the Internal Revenue Service and Chapter 12 bankruptcy debtors over the meaning of the 2005 amendment to the Bankruptcy Code.<strong>2 </strong>That amendment was to provide relief to Chapter 12 farm and ranch debtors in light of the long-standing favorable treatment given individual debtors under Chapter 7 and Chapter 11 of the Bankruptcy Code.<strong>3 </strong>Congress had refused to extend the same treatment to individuals filing under Chapter 12 but instead enacted in 2005 a special provision for Chapter 12 filers<strong>4 </strong>that proved to be controversial as to its meaning because of the ambiguities in the language chosen by Congress.<strong>5 </strong>As it turned out, the Chapter 12 solution was more favorable to the debtor than the provisions applicable to Chapter 7 and 11 filers inasmuch as tax claims are treated as unsecured claims even if not paid in full.</p>
dc.identifier archive/
dc.identifier.articleid 1994
dc.identifier.contextkey 11155862
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol20/iss19/1
dc.source.bitstream archive/|||Fri Jan 14 17:51:16 UTC 2022
dc.subject.disciplines Agricultural and Resource Economics
dc.subject.disciplines Agricultural Economics
dc.subject.disciplines Agriculture Law
dc.subject.disciplines Public Economics
dc.title Major Development in Income Taxation of Chapter 12 Bankruptcy Debtors
dc.type article
dc.type.genre article
dspace.entity.type Publication
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relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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