The Bankruptcy Abuse Prevention and Consumer Protection Act was enacted to minimize abuse of the bankruptcy system. Included in this Act were tax law changes and other changes that individuals, partnerships, and corporations will see in the bankruptcy procedures and qualifications. This course both examines these changes that debtors will face when filing for federal bankruptcy and also explores the many tax issues of bankruptcy. Practitioners will also learn about other issues such as homesteading and garnishment by creditors.
Course Publication Date:
February 03, 2024
This course is available with
NO ADDITIONAL FEE if you have an active
self study membership or
all access membership or can be purchased for
$20.00!
| Author: | Danny Santucci |
| Course No: | TAX-BANK-5054-M |
| Recommended CPE: | 2.00 |
| Delivery Method: | QAS Self Study |
| Level of Knowledge: | Overview |
| Prerequisites: | General understanding of federal income taxation |
| Advanced Preparation: | None |
| Recommended Field of Study: | Taxes
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Learning Objectives
- Identify changes made by the 2005 Bankruptcy Act, the common types of bankruptcy, and filing qualifications.
- Determine the impact of an automatic stay, the treatment of preferential transfers, the priority of claims, and the discharge of debts.
- Recognize the creation and taxation of an individual bankruptcy estate specifying partnership & corporate bankruptcy differences.
- Identify the scope of and special rules for homesteading and garnishment.