Bankruptcy Tax Issues
Earn 2 CPE Credits!
Exam price $58.
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All of our materials/exams are NASBA and the AICPA approved the revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards).

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  • Course materials (video & PDF version)
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  • Instant grading & certificate of completion
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Overview

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.

  • 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.
  • None
  • General understanding of federal income taxation
  • Basic
  • 103648

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