"Tough Times And Tax Bombs: Coping With COD Income," Law360
Restructuring the debt on a balance sheet is unpleasant at best since lenders just don’t seem to appreciate that mineral prices always fluctuate. Unfortunately, a successful negotiation with your lenders can create cancellation of indebtedness income, or so called COD income, which can lead to a significant tax bill which lenders may be unwilling to fund. Tax partner John Ransom discusses how companies can deal with their COD income.
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