Articles IRS Deference To Bankruptcy Courts

Articles / June 27, 2011

Income tax partner John Lehrer and bankruptcy partner Donald Workman co-authored “IRS Deference To Bankruptcy Courts,” which appeared June 27, 2011, on

In the article, Lehrer and Workman stress that, “Utilizable net operating losses can be one of the most valuable assets of a corporation as it emerges from a Chapter 11 bankruptcy.”

The article examines the impact that the bankruptcy court can have with the preservation of utilizable net operating losses for U.S. federal income tax purposes and the deference the IRS can and does give to decisions of the bankruptcy court.