The interplay between the Internal Revenue Code (Title 26) and the Bankruptcy Code (Title 11) is often confusing and unnecessarily complex. This presentation is designed to simply and demystify some of this interplay both (i) procedurally, by explaining some of the provisions of how the Bankruptcy Code and the Internal Revenue Code interact; and (ii) practically, by explaining some of the tax ramifications people holding “distressed” real estate might be facing in today’s market.
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