Divided U.S. Supreme Court: Debtors' Farm Sale Tax Liability Not Dischargeable

WASHINGTON, D.C. - (Mealey's) A divided U.S. Supreme Court ruled 5-4 Monday that the federal income tax liability that resulted from a debtor's post-petition farm sale is not "incurred by the estate" for the purposes of 11 U.S. Code Section 503(b); therefore, it is neither collectible...