NYC Bar Report on Accounting for Interest on Nonperforming Loans
Committee on Taxation of Business Entities of the New York City Bar
August 25, 2008
Mark Stone - New York
This report was submitted by the NYC Bar Committee on Taxation of Business Entities to senior members of Congress, the Treasury and the Commissioner of Internal Revenue Service on July 23, 2008. It was then published in the August 23 issue of Tax Notes. It deals with the timely topic of distressed debt and offers recommendations to ease some of the uncertainties and unfairness in accounting for the interest on such debt.
READ: NYC Bar Report on Accounting for Interest on Nonperforming Loans