Tax Relief Under Tax Cuts And Jobs Act? Not For Debtors

Law360 (June 22, 2018, 2:50 PM EDT) -- Effective Jan. 1, 2018, the Tax Cuts and Jobs Act is a wide-ranging change to the Internal Revenue Code affecting individual, corporate and international taxation. While lauded as being generally beneficial to corporate taxpayers, there is one subset of corporate taxpayers as to whom the TCJA was not beneficial — corporate taxpayers under the Bankruptcy Code.

Lost among the many commentaries are two changes that have a negative impact on business debtors under the Bankruptcy Code: (1) reduction of the corporate tax rates and (2) elimination of the ability to carry back net operating losses. Both changes will have a direct...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!