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Abstract

In a decision that has drawn national attention in bankruptcy circles and promises to shape the prevailing interpretation of the 2005 Chapter 12 bankruptcy amendments pertaining to the tax treatment of Chapter 12 debtors,1 the United States District Court for the Northern District of Iowa on June 12, 2008, handed down a 64-page decision that clearly carries out the legislative intent of the statute.2 The case clears the way for Chapter 12 bankruptcy cases to proceed under what is now a workable provision (which was enacted in 2005) by the most influential court to date to deal with the earlier Congressional omission to provide for separate entity status for Chapter 12 bankruptcy filers.3

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