Bankruptcy Taxation

Fourth Circuit Says Entireties Property Is Not Exempt from Tax Debt

The lack of perfection of a federal tax lien did not mean that the entireties interest was exempt under Section 522(b)(3).
Court: 

Debtor’s Subchapter S Status Is Estate Property that an Owner Can’t Terminate

Bankruptcy Judge Russin declines to follow the Third Circuit and adopts the conclusion of bankruptcy courts holding that Sub S status is estate property.

Three Circuits Agree: The ACA’s ‘Penalty’ Is Actually a Tax Entitled to Priority

Looking beyond the label assigned by the Affordable Care Act, three circuits have now held that failure to pay the ‘individual mandate’ for purchasing health insurance gave rise to a tax entitled to priority in bankruptcy.
Court: 

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