In a recent decision, the Indiana Court of Appeals held that a new exception existed to the general rule of Economic Loss Theory. Magic Circle Corps v Crowe Horwath LLP, 71A03-1607-PL-1520 (Ind. Ct. Ap. Mar. 8, 2017). In Magic, Magic Circle and several of its shareholders filed a complaint against […]
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The Requirements to Abate Taxes in Bankruptcy
Generally, in a bankruptcy proceeding the debtor’s pre-petition debts are discharged; taxes are unique in that most tax debts are not dischargeable. However, some tax debts may be dischargeable depending on the type of tax, how old the tax debt is, if the debtor filed a return, and the type […]