Help your client with bankruptcy and repossession issues

In recent months, the U.S. has seen an influx of companies declaring bankruptcy, most citing COVID-19 as part of the problem. While many businesses may have been in trouble before the government-ordered shutdowns nationwide, the pandemic has dug many companies into the ground. Now, more than ever, people are in need of resources that will help them through this difficult transition.

NATP is here to help. It’s important for tax professionals to become familiar with the tax obligations of their clients for those choosing bankruptcy and foreclosure. We offer some educational webinars discussing topics specific to these situations:

• Repossession, Debt Restructuring, and Cancellation on-demand webinar
  Description: With the massive economic impact of the COVID-19 shut-downs, this webinar is intended as a refresher to the basic economic and tax issues of foreclosures, repossessions, and debt cancellation. Most of the issues will be considered from both the borrower and lender perspective.

• Tax Aspects of Bankruptcy on-demand webinar
  Description: With the massive economic impact of COVID-19, this course will prepare tax professionals to better advise their client(s) on bankruptcy and insolvency issues. Including to identify tax debts that can or cannot be discharged by bankruptcy and the client’s tax filing responsibility.