If a debt is canceled or forgiven, other than as a gift or bequest, the debtor generally must include the canceled amount in gross income for tax purposes. A debt includes any indebtedness for which the debtor is liable or which attaches to property the debtor holds.
REPRESENTATION BEFORE THE UNITED STATES TAX COURT By: – Robert E. McKenzie and Jeffry J. Erney and Thomas J. Callahan and Gregory J. Gawlik
This title provides practical advice for practitioners, from initial filing through post-trial decisions and motions. It includes tips on discovery, collection, due process hearings, actions for declaratory relief, trial preparation, and innocent spouse relief. It contains a chapter dedicated to the discussion of partnership proceedings under TEFRA and an appendix containing the current Tax Court Rules.
* Deciding to Litigate in Tax Court
* Tax Court Jurisdiction
* Pretrial Motions
* Pretrial Negotiations
* Trial Preparation and Presentation of Case
* Post-Trial Matters: Briefs, Opinions, Decisions, and Motions
* Partnership Proceedings (TEFRA)
* Special Matters