Should Liabilities Assumed in Corporate Reorganizations Be Tax Free - A Discussion of Congressional Policy and Judicial Interpretation

No Thumbnail Available
Authors
Crockett, Ulysses S. Jr.
Kiesewetter, Jay
Issue Date
1975
Type
Journal Article
Language
Keywords
Research Projects
Organizational Units
Journal Issue
Alternative Title
Abstract
FIRST PARAGRAPH(S)|It is elementary tax law that if a creditor cancels a debt, the debtor has received either a gift or income. If he has received the latter, he must recognize his gain. Also, if the obligation of the taxpayer is paid by another, the taxpayer has received recognizable income. Furthermore, if a buyer purchases non-business related property and assumes the mortgage on that property, the seller has received an economic benefit and the gain he recognizes must include the, amount of the debt assumed by the buyer. When the words "corporate reorganization" are injected into this mileux, however, the results are not quite so predictable...
Description
Citation
8 Creighton L. Rev. 399 (1974-1975)
Publisher
Creighton University School of Law
License
Journal
Volume
Issue
PubMed ID
DOI
ISSN
EISSN