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Full-Text Articles in Taxation-Federal
Another Take On The Mortgage Debt Relief Situation, Deborah A. Geier
Another Take On The Mortgage Debt Relief Situation, Deborah A. Geier
Law Faculty Articles and Essays
Prof. Deborah A. Geier responds to Prof. Stephen Cohen's viewpoint on the mortgage debt relief debate.
Discharge Of Corporate Indebtedness At Less Than Face Value Under The Internal Revenue Code, Harvey Mahlig
Discharge Of Corporate Indebtedness At Less Than Face Value Under The Internal Revenue Code, Harvey Mahlig
Cleveland State Law Review
Prior to 1939 whenever a corporation paid less than the face amount of an obligation in full satisfaction thereof, taxable income was realized to the extent of the difference. In 1939 paragraph (9) was added to Section 22 (b) of the InternalRevenue Code. Therein it was provided that there should not be included in the taxable income of a corporation the amount of income attributable to the discharge of any indebtedness as evidenced by a security, provided at the time of such discharge the corporation was in an unsound financial condition. In orderto obtain the relief provided, the corporation had …