Bankruptcy cases and restructurings are becoming increasingly
complex. With this growing complexity comes the need to carefully
consider the tax implications of any proposed transaction. How
will NOLs be affected? How can COD income be minimized?
What are the potential tax implications of a post-restructuring change
in ownership structure?
We know the right questions to ask, and we have the experts to
answer them. At ST&G, we have one of the leading
practitioners in the country in the field of bankruptcy taxation.
In fact, ST&G's bankruptcy taxation group is so highly respected
that it is regularly consulted by other restructuring advisors and
bankruptcy lawyers from around the country.
Case in point: In In re Calcor Space Facility, Inc.,
ST&G was engaged to evaluate a proof of claim for more than
$500,000 that was filed by the IRS based upon the disallowance of a
corporate tax shelter. In the course of its review of the claim,
ST&G determined that the debtor had not taken advantage of
substantial deductions that were available to it based upon the
completed contract method of tax accounting. The IRS's Appeals
Office agreed with ST&G's position and approved a refund of taxes
and interest of more than $6 million for the debtor-corporation.
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