Cancellation of Indebtedness

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Cancellation of Indebtedness (COD) Cancellation of Indebtedness Definition State Tax Treatment of Cancellation of Debt Most states follow and/or adopt the federal income tax treatment of cancellation of indebtedness (COD) income under I.R.C. Section 108(a) as it relates to corporate taxpayers that are either insolvent or in bankruptcy. But few states provide clear guidance about […]
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