Tax liabilities in bankruptcy can be one of the most complex and challenging aspects of a distressed company’s restructuring. Fortunately, the Bankruptcy Code offers powerful, though underutilized, tools to address tax concerns. In combination with the U.S. Supreme Court's recent decision in Loper Bright Enterprises v. Raimondo, which overturned the long-standing Chevron doctrine, these tools provide a potentially transformative way to contest certain tax liabilities—particularly related to cancellation of indebtedness income (CODI).
A&M's tax expert Kevin M. Jacobs and Anthony V. Sexton from Kirkland & Ellis co-authored a recent article in the American Bankruptcy Institute Journal that explores how the Loper Bright decision, coupled with § 505 of the Bankruptcy Code, creates an opportunity to challenge controversial Treasury regulations that may lead to inflated tax liabilities, especially in debt restructuring scenarios.
A&M Tax Policy Insights – February 2026
March 26, 2026
A&M Tax Policy Insights covers Pillar One fallout, DST trends, UN talks, and key global tax updates, tariffs, and treaties impacting cross‑border operations.
IRS Creates Limited Opportunity to Revisit “Irrevocable” §163(j) Elections
March 25, 2026
Revenue Procedure 2026-17 creates a limited window to revoke certain “irrevocable” §163(j) elections, including the RPTOB and CFC group elections, in light of OBBBA-driven changes.
India Tax Alert | The Corporate Laws (Amendment) Bill, 2026
March 25, 2026
The Bill represents a significant shift toward streamlining corporate restructuring and reducing the regulatory friction for M&A transactions. Here is a summary of the key provisions from an M&A and restructuring perspective.
New Tax Treaty Between Spain and the Netherlands: Signing Approved by the Spanish Council of Ministers and the Expected Impact on Spanish Real Estate Investments
March 24, 2026
On March 10, 2026, the Spanish Council of Ministers approved the signing of a new double tax treaty between Spain and the Netherlands, formally replacing the current agreement signed in 1971, one of the oldest treaties in Spain’s tax treaty network.
