Taxation
The Conference’s work where bankruptcy meets the tax code — how debt relief is taxed, what happens to a troubled company’s tax attributes, and how tax claims are treated in a case — and the targeted fixes that keep restructuring working as Congress intended.
Where the Conference shapes the tax law of bankruptcy.
The Taxation Committee examines how the tax code and the Bankruptcy Code interact — when cancelled debt becomes taxable income, how net operating losses survive an ownership change, how Treasury rules treat distressed debt, and how far state taxing authorities may reach responsible persons. Its reports and its letters to Congress and Treasury propose targeted fixes and flag where the rules have drifted from what Congress intended.
Debt-discharge income
When cancelled debt is taxed, and when the bankruptcy exclusion applies.
Tax attributes
How a troubled company’s net operating losses survive an ownership change.
Tax claims
How far states may hold responsible persons liable for a company’s unpaid taxes.
The full committee
Reports & positions on bankruptcy tax.
Recent Tax Cases in Restructuring
Three recent decisions and what they mean for restructurings — state tax immunity, the economic-substance doctrine, and U.S. tax nexus for offshore funds.
Read Conferees onlyTax Regulations After Chevron
Which Treasury regulations on distressed debt may be open to challenge now that courts no longer defer to agency readings — and what that means for workouts.
Read Conferees onlyDebt-Discharge Income in Chapter 15 Cases
Whether the bankruptcy exclusion for cancellation-of-debt income reaches Chapter 15 debtors — and proposed clarifications to the tax code.
ReadWeighing a bankruptcy tax provision?
Get the Conference’s non-partisan read — and a direct line for technical assistance on debt-discharge income, tax attributes, and tax claims.