On March 6th Attorney Eric Green will speak on a national webinar for CCH on Cancellation of Debt (“COD”) and Bankruptcy tax issues.
The official description by CCH is:
Review the tax consequences of cancelled debts and consider the benefits of the Bankruptcy Code for resolving outstanding tax debts
As the economy continues to stagger along, many taxpayers are being surprised at tax time when they receive a 1099-C for a debt they believed was simply written-off by the creditor. This two-hour online CPE seminar course will review the Cancellation of Indebtedness (COD) rules and review the IRC §108 exceptions. It will also discuss the use of Bankruptcy for resolving outstanding tax debts, including dischargeability of taxes, and using the bankruptcy code to force an installment agreement on an otherwise unwilling IRS or state taxing authority.
Presented by highly regarded tax controversy expert, Eric L. Green, J.D. of Convicer, Percy & Green, LLP in Connecticut, this timely program will provide a practical review of COD tax issues and the use of Bankruptcy for resolving a client’s outstanding taxes, including recent changes in the mortgage modification area, electing the IRC §108 exceptions, the reduction of tax attributes, and cover the use of Bankruptcy Chapters 7, 11 and 13 for resolving outstanding tax liabilities. All professionals involved in tax planning, tax return preparation, and taxpayer representation will benefit from this seminar. The presentation time will include opportunities for you to ask questions directly to Mr. Green via email.
- What is Cancellation of Indebtedness (COD) Income
- Exceptions to the COD Income rules
- Electing the §108 exceptions
- The reduction of tax attributes
- Dischargeability of taxes in bankruptcy
- Bankruptcy alternatives for repaying back taxes
Interested professionals can register for the program by clicking this link