Updates to our Terms of Use

We are updating our Terms of Use. Please carefully review the updated Terms before proceeding to our website.

Monday, February 26, 2024 | Back issues
Courthouse News Service Courthouse News Service

IRS Issues Rule on|Debt Value Decline

WASHINGTON (CN) - The decline in the value of debt between the date it is issued and the date it is modified due to deterioration of the issuer's financial condition will not be considered for tax purposes, according to new Internal Revenue Service regulations.

For tax purposes, only the change in value after the date of the modification will be considered.

Click the document icon for this regulation and others.

Categories / Uncategorized

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Loading...