U.S. Supreme Court
Jun. 15, 2011
Court Takes Tax Liability Case
The U.S. Supreme Court agreed Monday to review a 9th Circuit Court of Appeals decision on the tax ramifications of a family's sale of its farm after their Chapter 12 filing.
The 9th Circuit ruled that the family could not get a discharge of their tax liability from the farm sale by virtue of their previous bankruptcy filing.
The case concerns the $29,000 capital gains tax from the sale of the Arizona farm for $960,000. Hall v. United States, 10-875....
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