Avoiding Cancellation of Debt Using Rebates or Refunds

Can taxpayers avoid cancellation of debt income by structuring debt reductions as rebates or refunds?  The court touched on this issue in French v. Commissioner, T.C. Summary Opinion 2018-36. The Facts & Procedural History The taxpayers borrowed money to purchase a home.  When they failed to make their payments on the mortgage, the bank made contacted […]

The post Avoiding Cancellation of Debt Using Rebates or Refunds appeared first on Houston Tax Attorneys: Mitchell & Patel.

cancellation of debt incomecod incomedebt discharge taxesHouston Tax Attorney BlogTax Blog

Best-Tax-Attorney-In