In working out debt with a lender, many are caught off guard by tax consequences that are not always apparent.
But there are some creative alternatives that can moderate the impact.
In the eCast Workouts From The Borrower’s Perspective, Berdon LLP tax partners Daniel Shapiro and Maury Golbert discuss these opportunities, including one expiring at the end of 2010. Their conversation extends to modifying and buying back debt.