internal revenue service

Yes. It is Possible to Avoid Tax Penalty Claims in Bankruptcy


On August 2, 2016, Judge Brendan L. Shannon of the Delaware Bankruptcy Court issued an opinion (the “Opinion”) in the Refco Public Commodity Pool, L.P. bankruptcy, Case No. 14-11216.  A copy of the Opinion is available here.  The Opinion holds that this Debtor’s failure to file its taxes was due to reasonable cause, and the associated tax penalties are, therefor, claims that can be excused and disallowed.


11th Circuit Issues Important Opinion On What Constitutes A “Return” For Purposes Of Determining What Taxes Are Dischargeable Pursuant to §523(a)(1).


tax_returnThe question of what constitutes a tax “return” for purposes of 11 U.S.C. §523(a)(1) has been the subject of conflicting Circuit Court cases the last several years.


The Reports Of The Death Of Refund Anticipation Loans Have Been Greatly Exaggerated!


Mark Twain

Tax Refund Anticipation Loans (RALs) are short term loans that are made by Lenders, through tax preparers, which are secured by a taxpayer’s tax refund.

With interest and fees associated with RALs, the effective annual percentage rate for these loans are often in the triple digits.