(DOWNLOAD) "Preslar v. Commissioner of Internal Revenue" by Tenth Circuit U.S. Court of Appeals * Book PDF Kindle ePub Free
eBook details
- Title: Preslar v. Commissioner of Internal Revenue
- Author : Tenth Circuit U.S. Court of Appeals
- Release Date : January 16, 1999
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 82 KB
Description
PUBLISH The Commissioner of Internal Revenue appeals the United States Tax Court's decision to redetermine the tax deficiency assessed against Layne and Sue Preslar for underpayment of 1989 federal income taxes. The Tax Court held the Preslars' settlement of a loan obligation for less than the face amount of the loan did not create taxable income because the contested liability/disputed debt exception to the general discharge-of-indebtedness income rule rendered the write-off nontaxable. We exercise jurisdiction pursuant to 26 U.S.C. § 7482(a)(1), and reverse and remand.