L3.04.22 Bankruptcy and Taxes

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Description

Bankruptcy and Taxes
IRS Program #: X9QQU-T-00855-22-O/S
CE: 1 IRS credit
Speaker: Laura Strombom, EA

A representative must know when it is time to refer a client to a bankruptcy attorney in order to resolve a client’s unpaid tax balances. In order to do that, the representative must have a basic overview of the bankruptcy process and how tax problems fit into it.

Learning Objectives:

Understand the different types of bankruptcy under the bankruptcy code.
Determine what taxes may or may not be discharged in each bankruptcy proceeding.
Identify when a lien survives a bankruptcy discharge.

Contributors

Laura Strombom, EA

Laura Strombom, EA, earned her enrolled agent license in 2001, her MBA in 1999, and became a National Tax Practice Institute™ (NTPI®) Fellow, class of 2010. The year 2019 marked her second year as an instructor for the National Association of Enrolled Agents. Laura has previously taught college courses in taxes and accounting, and enjoys all opportunities she gets to teach. She is involved in the Big Valley Chapter of the California Society of Enrolled Agents. Her practice, located in Stockton, California, offers preparation and representation services to all manner of taxpayers. Niche markets include clergy, daycare, trucking, construction, and medical professionals.