Book description
The thousands of mergers, acquisitions, and start-ups that have characterized the past years of business have created an increasing number of corporations in financial trouble: specifically, a shortage of venture capital or quick cash. Consequently, bankruptcy protection is now viewed as a strategic move to protect corporations from their creditors and allow them to reorganize. Fully revised and updated with new case studies and the latest coverage of regulations, Bankruptcy and Insolvency Taxation, Fourth Edition provides the answers to the questions financial managers will have on the tax aspects of bankruptcy strategy.
Table of contents
- Cover
- Series
- Title Page
- Copyright
- Preface
- CHAPTER ONE: Nature of Bankruptcy and Insolvency Proceedings
-
CHAPTER TWO: Discharge of Indebtedness
- § 2.1 INTRODUCTION
- § 2.2 DISCHARGE OF INDEBTEDNESS INCOME
- § 2.3 DETERMINATION OF DISCHARGE OF INDEBTEDNESS INCOME
- § 2.4 SECTION 108(e) ADDITIONS TO DISCHARGE OF INDEBTEDNESS INCOME
- § 2.5 SECTION 108(e) SUBTRACTIONS FROM DISCHARGE OF INDEBTEDNESS INCOME
- § 2.6 DISCHARGE OF INDEBTEDNESS INCOME EXCLUSIONS
- § 2.7 CONSEQUENCES OF QUALIFYING FOR SECTION 108(a) EXCLUSIONS
- § 2.8 SECTION 108(i) DEFERRAL AND RATABLE INCLUSION OF DOI FROM BUSINESS INDEBTEDNESS DISCHARGED BY THE REACQUISITION OF A DEBT INSTRUMENT
- § 2.9 USE OF PROPERTY TO CANCEL DEBT
- § 2.10 CONSOLIDATED TAX RETURN TREATMENT
- § 2.11 DISCHARGE OF INDEBTEDNESS REPORTING REQUIREMENTS
- CHAPTER THREE: Partnerships and S Corporations
- CHAPTER FOUR: Taxation of Bankruptcy Estates and Debtors
-
CHAPTER FIVE: Corporate Reorganizations
- § 5.1 INTRODUCTION
- § 5.2 ELEMENTS COMMON TO MANY REORGANIZATION PROVISIONS
- § 5.3 OVERVIEW OF SPECIFIC TAX-FREE REORGANIZATIONS UNDER SECTION 368
- § 5.4 ACQUISITIVE ASSET REORGANIZATIONS
- § 5.5 STOCK ACQUISITIONS
- § 5.6 SINGLE-ENTITY REORGANIZATIONS
- § 5.7 DIVISIVE REORGANIZATIONS
- § 5.8 INSOLVENCY REORGANIZATIONS
- § 5.9 SUMMARY
-
CHAPTER SIX: Use of Net Operating Losses
- § 6.1 INTRODUCTION
- § 6.2 I.R.C. SECTION 381
- § 6.3 RESTRUCTURING UNDER PRIOR I.R.C. SECTION 382
- § 6.4 CURRENT I.R.C. SECTION 382
- § 6.5 I.R.C. SECTION 383: CARRYOVERS OTHER THAN NET OPERATING LOSSES
- § 6.6 I.R.C. SECTION 384
- § 6.7 I.R.C. SECTION 269: TRANSACTIONS TO EVADE OR AVOID TAX
- § 6.8 LIBSON SHOPS DOCTRINE
- § 6.9 CONSOLIDATED RETURN REGULATIONS
- CHAPTER SEVEN: Other Corporate Issues
- CHAPTER EIGHT: State and Local Taxes
- CHAPTER NINE: Tax Consequences to Creditors of Loss from Debt Forgiveness
- CHAPTER TEN: Tax Procedures and Litigation
- CHAPTER ELEVEN: Tax Priorities and Discharge
- CHAPTER TWELVE: Tax Preferences and Liens
- About the Authors
- About the Web Site
- Statutes Citations
- Treasury Regulations, Revenue Procedures, and Revenue Rulings Citations
- Case Index
- Subject Index
-
Appendix A: Internal Revenue Code: Selected Sections
- SEC. 108. INCOME FROM DISCHARGE OF INDEBTEDNESS
- SEC. 312. EFFECT ON EARNINGS AND PROFITS
- SEC. 331. GAIN OR LOSS TO SHAREHOLDERS IN CORPORATE LIQUIDATIONS
- SEC. 332. COMPLETE LIQUIDATIONS OF SUBSIDIARIES
- SEC. 336. GAIN OR LOSS RECOGNIZED ON PROPERTY DISTRIBUTED IN COMPLETE LIQUIDATION
- SEC. 337. NONRECOGNITION FOR PROPERTY DISTRIBUTED TO PARENT IN COMPLETE LIQUIDATION OF SUBSIDIARY
- SEC. 338. CERTAIN STOCK PURCHASES TREATED AS ASSET ACQUISITIONS
- SEC. 351. TRANSFER TO CORPORATION CONTROLLED BY TRANSFEROR
- SEC. 354. EXCHANGES OF STOCK AND SECURITIES IN CERTAIN REORGANIZATIONS
- SEC. 355. DISTRIBUTION OF STOCK AND SECURITIES OF A CONTROLLED CORPORATION
- SEC. 356. RECEIPT OF ADDITIONAL CONSIDERATION
- SEC. 357. ASSUMPTION OF LIABILITY
- SEC. 358. BASIS TO DISTRIBUTEES
- SEC. 361. NONRECOGNITION OF GAIN OR LOSS TO CORPORATIONS; TREATMENT OF DISTRIBUTIONS
- SEC. 368. DEFINITIONS RELATING TO CORPORATE REORGANIZATIONS
- SEC. 381. CARRYOVERS IN CERTAIN CORPORATE ACQUISITIONS
- SEC. 382. LIMITATION ON NET OPERATING LOSS CARRYFORWARDS AND CERTAIN BUILT-IN LOSSES FOLLOWING OWNERSHIP CHANGE
- SEC. 383. SPECIAL LIMITATIONS ON CERTAIN EXCESS CREDITS, ETC
- SEC. 384. LIMITATION ON USE OF PREACQUISITION LOSSES TO OFFSET BUILT-IN GAINS
- SEC. 1017. DISCHARGE OF INDEBTEDNESS
- SEC. 1398. RULES RELATING TO INDIVIDUALS’ TITLE 11 CASES
- SEC. 1399. NO SEPARATE TAXABLE ENTITIES FOR PARTNERSHIPS, CORPORATIONS, ETC.
- SEC. 6103. CONFIDENTIALITY AND DISCLOSURE OF RETURNS AND RETURN INFORMATION
- Appendix B: Senate Report No. 96-1035 on H.R. 5043—Bankruptcy Tax Act of 1980
-
Appendix C: Senate Proposed Amendments to H.R. 5043 (Bankruptcy Tax Act of 1980) Adopted by Both Senate and House
- BANKRUPTCY TAX ACT OF 1980
- SEC. 7. EFFECTIVE DATES
- SECTION 2 (TAX TREATMENT OF DISCHARGE OF INDEBTEDNESS)
- SECTION 3 (RULES RELATING TO TITLE CASES FOR INDIVIDUALS)
- SECTION 5 (MISCELLANEOUS CORPORATE AMENDMENTS)
- PROVIDING CERTAINTY IN THE TAX LAWS
- FINANCE COMMITTEE PRO-DEBTOR AMENDMENT
- TIME FOR FINE TUNING NEXT YEAR
-
Appendix D: Representative Ullman’s Statement Regarding Bankruptcy Tax Legislation
- REQUEST TO CONCUR IN SENATE AMENDMENTS TO H.R. 5043, BANKRUPTCY TAX ACT OF 1980
- SEC. 7. EFFECTIVE DATES
- BANKRUPTCY TAX ACT OF 1980
- SEC. 7. EFFECTIVE DATES
- “STOCK-FOR-DEBT” RULES
- EFFECTIVE DATE PROVISIONS
- TECHNICAL AMENDMENTS
- SECTION 2.’TAX TREATMENT OF DISCHARGE OF INDEBTEDNESS
- SECTION 3.’RULES RELATING TO TITLE 11 CASES FOR INDIVIDUALS
- SECTION 5.’MISCELLANEOUS CORPORATE AMENDMENTS
- GENERAL LEAVE
-
Appendix E: Selected Provisions from the General Explanation of the Tax Reform Act of 1986
- DISCHARGE OF INDEBTEDNESS INCOME FOR CERTAIN FARMERS (SEC. 405 OF THE ACT AND SECS. 108 AND 1017 OF THE CODE)
- SPECIAL LIMITATIONS ON NET OPERATING LOSS AND OTHER CARRYFORWARDS (SEC. 621 OF THE ACT AND SECS. 382 AND 383 OF THE CODE)
- RECOGNITION OF GAIN OR LOSS ON LIQUIDATING SALES AND DISTRIBUTIONS OF PROPERTY (GENERAL UTILITIES) (SECS. 631, 632, AND 633 OF THE ACT AND SECS. 336, 337, AND 1374 OF THE CODE)3
- CANCELLATION OF INDEBTEDNESS FOR SOLVENT TAXPAYERS (SEC. 822 OF THE ACT AND SEC. 108 OF THE CODE)
-
Appendix F: Selected Provisions from the Explanation of the Technical and Miscellaneous Revenue Act of 1988
- HOUSE WAYS AND MEANS COMMITTEE REPORT NO. 100-795, JULY 26, 1988 (“HOUSE COMMITTEE REPORT”)
- SENATE FINANCE COMMITTEE REPORT NO. 100-445, AUGUST 3, 1988 (“SENATE COMMITTEE REPORT”)
- JOINT COMMITTEE ON TAXATION EXPLANATION OF SENATE CONSENSUS AMENDMENT, JCX-28-88, SEPTEMBER 12, 1988
- CONFERENCE COMMITTEE REPORT, STATEMENT OF THE MANAGERS, OCTOBER 24, 1988 (“CONFERENCE COMMITTEE REPORT”)
- ACT § 1006 AND FRC § 336, 368, AND 382 SENATE COMMITTEE REPORT
- SPECIAL LIMITATIONS ON NET OPERATING LOSS AND OTHER CARRYFORWARDS
- RECOGNITION OF GAIN OR LOSS ON LIQUIDATING SALES AND DISTRIBUTIONS OF PROPERTY (GENERAL UTILITIES)
- JOINT COMMITTEE EXPLANATION OF SENATE CONSENSUS AMENDMENT
- HOUSE COMMITTEE REPORT
- CONFERENCE COMMITTEE REPORT
- ACT SEC. 4012 AND IRC § 382: FINANCIAL INSTITUTIONS
- ACT SEC. 1004 AND IRC § 108(G): TREATMENT OF DISCHARGE OF INDEBTEDNESS INCOME OF CERTAIN FARMERS
- ACT SEC. 1018(D)(5) AND IRC § 361: EARNINGS AND PROFITS
- Appendix G: In re Fremont General Corporation: Tax Consequences of Plan
Product information
- Title: Bankruptcy and Insolvency Taxation, 4th Edition
- Author(s):
- Release date: February 2012
- Publisher(s): Wiley
- ISBN: 9781118000779
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