April 16, 2008
Article on "Borrowed Regulations": The IRS's Ability to Decide Who Qualifys for Chapter 7
I highly recommend a new article published in the Norton Bankruptcy Law Advisor by Professor Matthew Stevenson and Kristin Hickman: The Administrative Law of Borrowed Regulations: Legal Questions Regarding the Bankruptcy Law's Incorporation of IRS Standards. The article can be accessed here.
From the abstract: "To what extent, if at all, should bankruptcy courts defer to IRS statements, contained in documents other than the Standards themselves, about how the Standards should be applied? May the IRS alter the Standards for its own purposes but not for bankruptcy purposes, or vice versa? What procedures must the IRS use when it modifies the Standards, especially in light of the fact that the Standards now have an apparently binding effect in bankruptcy cases?"
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