November 29, 2011Comments Off on Justices consider if tax on farm sale is dischargeable
WASHINGTON – In a case that could have broad implications for bankruptcy filers, the U.S. Supreme Court is set to decide whether a farmer who sells his farm after filing for bankruptcy can discharge a tax debt.
When a Chapter 12 bankruptcy filer sells a farm, is the capital gain tax incurred dischargeable? Hall v. U.S., No. 10-875. Certiorari granted June 13, 2011. Ruling below: 617 F.3d 1161 (9th Cir. 2010).