The Internal Revenue Code provides specific guidelines for bankruptcy estates. Discover how to use those rules to your estates’ advantage and avoid the pitfalls along the way. Learn how to evaluate the tax benefits and traps that Trustees should be aware of for Chapter 11 and Chapter 7 individual and business bankruptcies. Topics will include identification of when an estate is likely to be taxable and how to approach assets sales, pass-through partnerships and S corporations, required payroll and 1099 reporting, as well as potential tax elections to consider.
