Texas

Estimated Tax Payments Made Before Filing Aren’t Fraudulent Transfers to the IRS

When estimated tax payments are ‘reasonable’ estimates of the year’s taxes, they aren’t fraudulent transfers, district judge says

Student Loans Consolidated After Filing Can’t Be Discharged, Even for Undue Hardship

Consolidating student loans after filing creates a post-petition debt that can’t be discharged without filing bankruptcy again.

Debt for Selling a Gun Used in a Mass Killing Was Dischargeable

Congress might want to consider closing a dischargeability loophole when it comes to injuries indirectly resulting from commission of a felony.

State Exemption for Life Insurance Policies Continues to Be Under Attack in Texas

Defeated three times, a chapter 7 trustee is appealing to the Fifth Circuit to end the exemption for whole-life policies in Texas.

Judge Isgur Allows 401(k) Contributions in Chapter 13 Up to What the IRS Code Allows

Contributions to 401(k) plans are deducted from ‘projected disposable income,’ even though the debtor was not making contributions before filing

State Exemption for Life Insurance Policies Under Attack in Texas

Bankruptcy Judges Gargotta and Davis both held that the amended Texas exemption statute exempts life insurance policies and their cash surrender values.

‘Economic Unit Approach’ Best Fixes the Size of a ‘Household,’ Judge Larson Says

The IRS and Census methods for determining the size of a ‘household’ undercount or overcount economic realities, judge says.

A Judgment for Punitive Damages Might Not Support Nondischargeability Automatically

Jury instructions and a special verdict form can determine whether issue preclusion automatically results in nondischargeability.