- Credits: 2
- Format: Self-Study eBook
- Field of Study: Federal Tax Law
- Author/Speaker: Danny Santucci, CPA
| Course ID: | Advanced Preparation: | Experience Level: |
|---|---|---|
| EWTFM-U-01771-21-S | 6233-CE-0450 | None | Overview |
| Published Date: | Program Prerequisites: | Other Course Formats: |
| © February 2021 | General Understanding of Federal Income Taxation | Self-Study eBook |
COURSE 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
Topics include:
- Tax Law changes
- Bankruptcy types
- Automatic stay
- References
- Priorities
- Debt discharge
- Individual bankruptcy estate
- Individual debtor
- Corporate bankruptcy
- Homesteading & garnishment
Learning Objectives:
After reading the course material, you will be able to:
- 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.
Who Should Attend:
- All Certified Public Accountants (CPAs)
- Enrolled Agents (EAs)
- Tax Return Preparers (TRPs)
