The Bankruptcy Abuse Prevention and Consumer Protection Act was enacted to minimize abuse of the bankruptcy system. Included in this Act were tax law changes and other changes that individuals, partnerships, and corporations will see in the bankruptcy procedures and qualifications. This mini-course both examines these changes that debtors will face when filing for federal bankruptcy and also explores the many tax issues of bankruptcy. Practitioners will also learn about other issues such as homesteading and garnishment by creditors.
After reading the materials, participants will be able to:
- Identify changes made by the 2005 Bankruptcy Act, the common types of bankruptcy and filing qualifications.
- Determine the impact of an automatic stay, the treatment of preferential transfers, the priority of claims, and the discharge of debts.
- Recognize the creation and taxation of an individual bankruptcy estate noting partnership & corporate bankruptcy differences.
- Identify the scope of and special rules for homesteading and garnishment.
Danny C. Santucci earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders, in Irvine, California. Serving as a lecturer for the Continuing Education of the Bar of California, Golden Gate University, and numerous state C.P.A. societies, Danny has taught a variety of tax, business, and real estate courses.
home or office
Tax CPE (For PA CPAs Only)
understanding of federal income taxation
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