State and Local Tax Claims in Ch. 11 Bankruptcy: Challenges and Strategies for Attorneys and SALT Practitioners

Key Bankruptcy Provisions for SALT Claims and Objections; Court Authority to Determine Claims; Negotiating Settlements

Recording of a 90-minute premium CLE/CPE video webinar with Q&A


Conducted on Thursday, April 1, 2021

Recorded event now available

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Program Materials

This CLE/CPE webinar will provide attorneys and tax professionals guidance for managing state and local tax agency claims in Chapter 11 bankruptcy proceedings. The panel will discuss challenges for state and local tax practitioners, applicable bankruptcy rules, proof of claims and objections, negotiating settlements with a state tax agency, and other key issues.

Description

COVID-19 has caused an increase in bankruptcy filings by companies across a variety of industries. Attorneys and tax practitioners must understand key aspects of bankruptcy law related to state taxes and implement strategies to ensure a smooth emergence by their clients from bankruptcy without the burden of state and local tax claims.

As they apply to state tax claims, special provisions of bankruptcy law must be examined during Chapter 11 bankruptcy proceedings. Most states have designated departments within their tax agency specifically tasked with pursuing state tax claims when businesses file for bankruptcy. Once a state or local agency files a proof of claim, and the claim amount is allowed either by a negotiated resolution between the government and taxpayer representatives or by a bankruptcy court decision, the claim is paid following the reorganization plan provisions subject to the Bankruptcy Code.

However, counsel and tax practitioners must recognize potential issues associated with how the bankruptcy court will determine claims, objecting to state tax proof of claims and key provisions of state tax settlement agreements.

Listen as our panel discusses the challenges for state and local tax claims in bankruptcy proceedings and related rules, examines proof of claims and objections, and offers techniques for negotiating settlements with a state tax agency. The presenters are the authors of the article, "Go Broke: State Tax Bankruptcy in the COVID Era," which appeared in the December 21, 2020 edition of State Tax Notes.

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Outline

  1. Interplay of bankruptcy rules and state taxes
  2. Negotiating settlements with a state tax agency
  3. Bankruptcy court authority to determine claims
  4. Objections to state proof of claims
  5. Best practices for counsel and tax practitioners

Benefits

The panel will review these and other key issues:

  • How can the bankruptcy court and bankruptcy rules be used in resolving state tax claims for companies?
  • How are state tax claims handled in bankruptcy proceedings?
  • What authority does a bankruptcy court have in determining claims?
  • What are the key factors in negotiating settlements with a state tax agency?

Faculty

Eisenstein, Martin
Martin Eisenstein

Managing Partner
Brann & Isaacson

Mr. Eisenstein is one of the nation’s leading experts in state and local taxation of information...  |  Read More

Szal, Jamie
Jamie E. T. Szal

Attorney
Brann & Isaacson

Ms. Szal focuses her practice on assisting businesses in all aspects of state and local tax controversy, from...  |  Read More

Access Anytime, Anywhere

Strafford will process CLE credit for one person on each recording. CPE credit is not available on recordings. All formats include program handouts.

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