Bankruptcy – IRS’s offset right trumps debtor’s right to receive tax overpayment (access required)

The case of first impression held that despite a bankruptcy code section providing that exempt property cannot be used to satisfy a debtor’s prepetition debts, the tax code makes clear the government’s right to set-off a tax overpayment against a taxpayer’s preexisting tax liabilities extends to an overpayment due to a debtor. Background This case requires the ...

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South Carolina Lawyers Weekly

Bankruptcy – IRS’s offset right trumps debtor’s right to receive tax overpayment

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