Bankruptcy Court Interpretation of Chapter 12 Tax Rules

dc.contributor.author Harl, Neil
dc.contributor.author Peiffer, Joseph
dc.contributor.department Iowa State University Digital Repository
dc.date 2018-02-19T02:20:36.000
dc.date.accessioned 2020-06-29T22:54:40Z
dc.date.available 2020-06-29T22:54:40Z
dc.date.embargo 2017-11-13
dc.date.issued 2006-12-08
dc.description.abstract <p>The first Bankruptcy Court interpretation<strong>1 </strong>of the provisions in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005<strong>2 </strong>pertaining to the income tax treatment of asset dispositions in Chapter 12 bankruptcy cases<strong>3 </strong>has been published. The first case, involving a hog farmer from Northern Iowa who had encountered disease problems in the swine herd and a series of accidents (following a period of low hog prices), tested the income tax rules enacted in 2005 for Chapter 12 filers. Although the decision was favorable to the taxpayers on some issues, the opinion did not go as far as the taxpayer had hoped. Counsel for the taxpayer indicates that an appeal is likely and legislative clarification of the key issues has not been ruled out.</p>
dc.identifier archive/lib.dr.iastate.edu/aglawdigest/vol17/iss24/1/
dc.identifier.articleid 1856
dc.identifier.contextkey 11040626
dc.identifier.s3bucket isulib-bepress-aws-west
dc.identifier.submissionpath aglawdigest/vol17/iss24/1
dc.identifier.uri https://dr.lib.iastate.edu/handle/20.500.12876/3287
dc.source.bitstream archive/lib.dr.iastate.edu/aglawdigest/vol17/iss24/1/AgLawDigest_v17n24_01.pdf|||Fri Jan 14 17:50:04 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 Bankruptcy Court Interpretation of Chapter 12 Tax Rules
dc.type article
dc.type.genre article
dspace.entity.type Publication
relation.isJournalIssueOfPublication 4aa8d00b-e6e3-4bd1-85b2-9bf8af306477
relation.isOrgUnitOfPublication d2bcee6c-7cba-4fa7-bd11-543354ce7b1b
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