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Income Taxes › Internal Revenue Service › Debtors

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
McGlinchey Stafford

Straddle-Year Tax Debts in Bankruptcy: Does the King Get Paid First? [More with McGlinchey, Ep. 14]

McGlinchey Stafford on

The Internal Revenue Service is often a significant creditor in a bankruptcy proceeding, frequently taking priority over other creditors. In this episode, McGlinchey Tax attorney Douglas Charnas (Washington, DC) and Financial...more

McDermott Will & Emery

Seventh Circuit Upholds Lien Notice despite Incorrect Name

McDermott Will & Emery on

When you do not pay your taxes, the Internal Revenue Service (IRS) has the power to file a “lien” on your property under Internal Revenue Code section 6321. The lien attaches “upon all property and rights to property, whether...more

Farrell Fritz, P.C.

Revoking S Corp. Status: A Fraudulent Conveyance?

Farrell Fritz, P.C. on

Worlds Collide? I like to tell my partners that there are Codes (upper case “C”), and there are codes (lower case “c”). The former include the Ten Commandments, the Code of Hammurabi, the Code of Justinian, and the...more

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