The IRS will not acquiesce to Tax Court decisions allowing general partners who guaranteed the debt of their partnership and were not in bankruptcy in their individual capacity to exclude from gross income cancellation-of-debt (COD) income arising from a Title 11 bankruptcy proceeding of the partnership.
FROM THIS MONTH'S ISSUE
Promises of ‘fast and easy’ threaten SOC credibility
CPAs who provide Service and Organization Control (SOC) examinations warn that an ongoing push for high-volume SOC services may come at the cost of quality and objectivity.
From The Tax Adviser
February 18, 2026
Why LIFO, why now?
February 10, 2026
Navigating safe-harbor rules for solar and wind Sec. 48E facilities
January 31, 2026
Trust distributions in kind and the Sec. 643(e)(3) election
January 31, 2026
