Smith v. United States (In re Smith)

Ruling: 
Capital gains tax obligations resulting from postconfirmation sale of farm assets was not subject to terms of plan and would not be treated as a general unsecured claim.
Procedural posture: 
When, citing 11 U.S.C.S. § 1222(a)(2)(A), chapter 12 debtors asked the court to declare that a capital gains tax obligation resulting from their postconfirmation sale of farm assets was properly treated as a general unsecured claim that was not entitled to priority, the IRS objected. The IRS also asserted that the court lacked jurisdiction to determine the issue by reason of sovereign immunity.
Issue: 
ABI Membership is required to access the full summary of Smith v. United States (In re Smith). Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on March 10,2011, LexisNexis #0411-029