The Hidden Tax Trap Associated with Cancellation of Debt CLE

Buchanan Ingersoll & Rooney attorney Justin Pierce Berutich presented "The Hidden Tax Trap Associated with Cancellation of Debt" at the June Continuing Legal Education Seminar for Marino Legal CLE, held June 22 - 23, 2013, at New York Law School in Tribeca.

Due to popular demand, Berutich presented, for a second time, on the law of cancellation of debt (“COD”) income and its effect on entities and individual obligors and guarantors. In additional to providing an overview of cancellation of debt issues, the CLE discussed the specific effects of COD income on guarantors of single purpose limited liability companies holding title to collateral real property, as well as individual debtors incurring COD income as a result of transactions associated with their principal residences.