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Spring 2022
6203 Bankruptcy Tax - WELLS- 25615

Professor(s): Bret Wells (FACULTY)

Credits: 2

Course Areas: Taxation 
Business and Commercial Law

Time: 4:00p-6:00p  T  Location: 144  TUII

Course Outline: Bankruptcy Tax explores the resolution of the conflicting policies underlying the bankruptcy laws and the tax laws. When should generally applicable procedures for the determination and collection of taxes by modified to accommodate the orderly administration of a debtor's bankruptcy estate? When should rules requiring taxation of debt relief be overriden in the interests of affording a fresh start? How should rules limiting carryover of corporate losses be adjusted to recognize the investment of creditors in those losses? We will carefully explore bankruptcy rules circumscribing the audit and tax determination procedures, the place of interest and penalties under the Bankruptcy Code, The tax implications of modifying debt, the exclusion of a debtor's discharge of indebtedness from gross income and the consequent reduction of his tax attributes, and the conditions for mitigation in bankruptcy of rules cutting off losses and credits when ownership changes occur.

Course Syllabus: Syllabus revised 1/11/22

Course Notes: (Face-to-Face)  The UH registration system instruction mode for this course is listed in parenthesis. After student registration in November, there may be instruction mode changes to this course up through Jan. 5th, 2022, but notice of such changes will be sent to then-registered students. Instructors and students are expected to normally be physically present in the classroom. If the course has a final examination, it will be in a classroom requiring your physical presence. Other assessment, such as a mid term exam, may also be in a classroom. Whether this instructor will offer “remote presence” (starting a zoom meeting from the podium computer to enable student remote access on an occasional basis) for part or all of the semester is not known, but students should not rely on an expectation that remote presence will be available.

This is an LL.M class, and JD students may register, if space is available.

Prerequisites: Yes  Federal Income Tax

First Day Assignments:

Final Exam Schedule: 05/10 4pm-7pm      

This course will have:

Satisfies Senior Upper Level Writing Requirement: No

Experiential Course Type: No

Bar Course: No

DistanceEd ABA 306:

Pass-Fail Student Election: Available

Course Materials (10/15/2021 2:03:22 PM)

Book(s) Required

Course Materials: 1) Casebook provided in Blackboard. 2) b. Wolters Kluwer / CCH Publications, “Federal Income Tax — Code & Regulations, Selected Sections,” 2021-2022 Edition (ISBN: 9780808056287). 3) c. Charles J. Tabb, “Bankruptcy Code, Rules, and Official Forms,” 2021 Law School Edition, West Publishing (ISBN: 9781647088903). Additional supplemental readings will be on Blackboard.