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When someone makes a payment to a creditor shortly before filing for bankruptcy, the Bankruptcy Code requires the creditor to return the funds. But whether those same obligations apply to the Internal Revenue Service is less clear. On Monday, the justices will consider whether the IRS is protected by sovereign immuinity from the requirement to return funds from insolvent debtors that private creditors face.
The case, United States v. Miller, involves Section 544(b) of the Bankruptcy Code, which … Read the rest