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Course Details

Bankruptcy Tax Issues - Mini Course (Course Id 662)

Updated / QAS / Registry / EA
  Add to Cart 
Author : Danny C Santucci, JD
Course Length : Pages: 0 ||| Review Questions: 0 ||| Final Exam Questions: 10
CPE Credits : 2.0
IRS Credits : 2
Price : $17.95
Passing Score : 70%
Course Type: NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents
Technical Designation: Technical
Primary Subject-Field Of Study:

Taxes - Taxes for Course Id 662

Description :

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 mini-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.

Usage Rank : 19231
Release : 2023
Version : 1.0
Prerequisites : General understanding of federal income taxation.
Experience Level : Overview
Additional Contents : Complete, no additional material needed.
Additional Links :
Advance Preparation : None.
Delivery Method : QAS Self Study
Intended Participants : Anyone needing Continuing Professional Education (CPE).
Revision Date : 20-Jun-2023
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - Text - NASBA Registry - IRS Enrolled Agents - 662

Keywords : Taxes, Bankruptcy, Tax, Issues, Mini, Course, cpe, cpa, online course
Learning Objectives :

As a result of studying the assigned materials, you should be able to meet the objectives listed below.

    At the start of the materials, participants should identify the following topics for study:
      * Tax law changes
      * Bankruptcy types
      * Automatic stay
      * Preferences
      * Priorities
      * Debt discharge
      * Individual bankruptcy estate
      * Individual debtor
      * Corporate bankruptcy
      * Homesteading & garnishment
Learning Objectives:
    After reading the materials, participants will be able to:
      1. Identify changes made by the 2005 Bankruptcy Act, the common types of bankruptcy, and filing qualifications.
      2. Determine the impact of an automatic stay, the treatment of preferential transfers, the priority of claims, and the discharge of debts.
      3. Recognize the creation and taxation of an individual bankruptcy estate specifying partnership & corporate bankruptcy differences.
      4. Identify the scope of and special rules for homesteading and garnishment.
Course Contents :

Chapter1 - Bankruptcy Tax Issues


Federal Bankruptcy

Means Testing

State Median Income Test

Means Test

Credit Counseling

Tax Law Changes

Chapter 13 "Super discharge"

Subordination of Ad Valorem Tax Liens

Interest on Tax Claims

Tax Returns

Bankruptcy Types

Chapter 7 - Liquidation

Exempt Assets


Trustee Appointment

Chapter 11- Reorganization


Creditors’ Committee

Reorganization Plan

Chapter 13 - Wage-Earner Plan


Repayment Plan

Trustee Appointment

Automatic Stay

Tax Assessment

Suspension of Statute of Limitation

Immediate Assessment


Tax Court

Tax Court Petition


Trust Fund Taxes

Allocation of Tax Payments


Super Priority Claims

Secured Claims

Federal Tax Liens

Priority Claims


Tax Claim Determination


     Priority of Tax Claims

          Second Priority Tax Claims

                      Third Priority Tax Claims

                       Four Generates Priority Eight Tax Claims

                       Eighth Priority Tax Claims

Debt Discharge

Chapter 7 Discharge

Chapter 11 Discharge

Chapter 13 Discharge

Discharge of Taxes

Tax Liens

Individual Bankruptcy Estate

Separate Entity

Tax Attribute Carryovers

Termination of the Estate

Filing Requirements

Disclosure of Return Information

Taxable Income

Taxable Year

Gross Income

Deductions & Credits

Administrative Expenses

Net Operating Loss Carryback

Transfers to Debtor

Partnership & S Corporation Interests

Request for Prompt Determination of Liability

Tax Liability

Individual Debtor

Tax Year Election

Annualizing Taxable Income

Making the Election

Later Bankruptcy of Spouse

Election Considerations

Transfers between Debtor & Estate

Net Operating Loss Carryback Limitation

Partnership Bankruptcy

No Separate Estate

Discharge of Debts

Corporate Bankruptcy

Exemption Return Filing

Personal Holding Company Tax

Tax-free Reorganizations

§354, §355, & §356

Corporate Liquidations under Chapter 7

Carryover of Tax Items - §381 & 382

Bankruptcy Exception

Reduction of Carryforwards

Section 269 Presumption


Types of Homesteads

Property & Equity Covered

Who Can Homestead?

Excluded Debts




CPE Taxes Course: https://www.cpethink.com/tax-cpa-courses
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