*Endorsed by the Bankruptcy, Insolvency & Creditors’ Rights Section and the Taxation Law Section of the State Bar of Wisconsin
Bankruptcy and taxes impact one another, so it’s essential to know how an action in one area affects the other. Tax Consequences of Bankruptcy in Dealing with Tax Liens is the second in a series of three webcasts covering important tax-related issues in bankruptcy proceedings. Experienced practitioners and the IRS Office of the Chief Counsel provide the guidance you need to wisely counsel your clients as they navigate the complexities of bankruptcy.
The skinny on liens
In many cases, clients filing for bankruptcy must contend with tax liens. Both state and federal tax liens can be imposed on houses, cars, and even personal property like household furniture.
Discover how to handle liens during a bankruptcy proceeding, including:
- A step-by-step plan for addressing common types of tax liens
- Techniques for approaching liens that remain in place after bankruptcy
- Circumstances in which a lien may be forgiven
In addition, the presenters will illustrate the tax consequences of bankruptcy – including liens – using a hypothetical scenario.
Although liens add another layer of complexity to bankruptcy proceedings, they aren’t insurmountable barriers. Lead your clients through their liens with help from Tax Consequences of Bankruptcy in Dealing with Tax Liens.