Who Controls Tax Status? S-Corps., QSubs and Bankruptcy.

more+
less-

The Third Circuit has ruled that a bankruptcy court cannot not restrain shareholders of an S-Corp. from altering the tax status of an S-Corp. or QSub that is the debtor in a bankruptcy case. The rationale, which appears very solid, is that tax status as a pass-through entity is not property of the bankruptcy estate.

LOADING PDF: If there are any problems, click here to download the file.

Published In: Bankruptcy Updates, Tax Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© James R. Malone, Jr., MALONE LLC | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »