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White Paper

5 Pages
  • 5 Pages

General Rules of IRC Section 108: Income From Discharge Of Indebtedness

 

Are there exceptions to the rules?

The general rule is that reduction of indebtedness through compromise, negotiation, release, forgiveness or otherwise gives rise to cancellation of indebtedness income. However, there are exceptions to the general rule. This white paper reviews those exceptions and discusses the consequences of exclusion and why the complexity of the rules dictates extreme caution.

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General Rules of IRC Section 108: Income From Discharge Of Indebtedness

Agenda

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General Rules of IRC Section 108: Income From Discharge Of Indebtedness

Faculty

Dale Baringer

Dale Baringer

THE BARINGER LAW FIRM II, L.L.C.

  • Has over 38 years of experience in the practice of law
  • He is certified by the Louisiana State Bar Association as a specialist in the field of taxation
  • Areas of emphasis in practice are in the fields of tax law (planning, business transactions, dispute resolution and tax litigation), securities law, bankruptcy law (with emphasis on representation of creditors, creditor committees, trustees and Chapter 11 work), corporate law, commercial and business litigation, corporate takeovers, business organizations, personal injury law, professional malpractice, mergers and acquisitions, employment law, ERISA litigation, life/accident and health insurance law, wills, trusts, estate planning, successions and estate administration
  • Has trial experience in all federal district courts in Louisiana, many of the Louisiana state district courts, and the U.S. Tax Court
  • Serves as owner and manager of Nationwide 1031 Exchange Professionals, L.L.C. and Nationwide E.A.T., L.L.C., which provide services as a like-kind exchange intermediary and exchange accommodation title holder, respectively, for IRC §1031 like-kind exchange transactions
  • Frequent presenter of seminar programs in the fields of taxation, bankruptcy, business organizations, trial practice, ethics and professionalism
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General Rules of IRC Section 108: Income From Discharge Of Indebtedness

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