Tax Planning for Cancellation of Debt

Thomson Reuters, Checkpoint Learning Webinar
January 22, 2015 (11:00 a.m. - 1:00 p.m. ET)

Joseph B. Darby III presented "Tax Planning for Cancellation of Debt," at a webinar sponsored by Thomson Reuters. Mr. Darby addressed the tax aspects of cancellation of debt, both from a cancellation occurring in bankruptcy and a cancellation or modification resulting from a negotiated settlement between a lender and a distressed borrower. He discussed the unfortunate and increasingly common circumstance where taxpayers are in dire economic straits, and cannot pay off their outstanding debts.