In Uncategorized on 07/18/2016 at 16:38

If it’s more, it’s the Feds; if it’s less, it’s the State’s. That’s how you figure out pre-notice interest in a Section 6901 transferee liability case, and at close of play Michael A. Tricarichi, Transferee, 2016 T. C. Memo. 132, filed 7/18/16, who was maybe a hundred grand over the $35 mil IRS claims he owes with pre-notice interest thrown in per Title 26 USC, not per OH (and OH would’ve been zero, he claims), so Mike really gets clobbered.

Judge Lauber goes through the precedents, which don’t make a lot of sense to me, so I won’t try to explain them. If all Section 6901 does is let IRS fast-track a State voidable-transfer claim, why bifurcate pre-notice interest based on whether the transferee got enough assets to pay IRS in full? If the transferee got less, then take it all and have done. Or file a NFTL for the shortfall. State law should hardly be relevant. The aim is to make the creditor whole, right?

It seems there was some contrary First Circuit learning years ago, but Judge Lauber blows it off.

If this is your kind of case, read it. Me, I’ve got a closing tomorrow.


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