Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>

Court says farmers must pay bankruptcy tax

Court News     updated  2012/05/14 11:26


The Supreme Court says a farming family has to pay tax on the bankruptcy sale of their farm.

The high court on Monday voted 5-4 for the IRS in its fight with Lynwood and Brenda Hall over their bankruptcy sale of their 320-acre farm in Willcox, Ariz.

The Halls were forced to sell their family farm for $960,000 to settle their bankruptcy debts. That sale brought about capital gains taxes of $26,000.The Halls wanted the taxes treated as part of the bankruptcy, paying part of it and having the court discharge the rest.

The IRS objected to that plan, saying all of the taxes must be paid and the 9th U.S. Circuit Court of Appeals in San Francisco agreed with the tax agency.

The high court agreed with that decision.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com