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Distressed Assets Internal Revenue Service

Pillsbury Winthrop Shaw Pittman LLP

Commercial Real Estate Partnership Cancellation of Debt Income

The complexities of cancellation of debt income (CODI), including bankruptcy and insolvency implications, are important to understand. When debt is cancelled or discharged, the borrowed funds become taxable income, or...more

Cadwalader, Wickersham & Taft LLP

Key Features and Ambiguities of the New Corporate Book Minimum Tax

The Inflation Reduction Act of 2022 imposes a 15% corporate Book Minimum Tax (“BMT”) for taxable years beginning after December 31, 2022. The BMT is a 15% tax on certain domestic corporations’ Applicable Financial Statement...more

Locke Lord LLP

Tax Planning When Investing in Distressed Assets

Locke Lord LLP on

Can private equity firms unwittingly trigger a tax when they invest in distressed assets? A: All taxpayers, including private equity firms, can trigger a tax when investing in distressed assets. This can occur when a...more

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