Self-study: Tax Considerations in Troubled Company Situations

This course, based on the March 21, 2013 webcast, discussed tax considerations of debt restructuring, including cancellation of debt income (CODI), net operating loss rules and built-in gains and losses.

Learning Objectives
After completing this program, participants will be able to:

  1. Define cancellation of debt income (“COD income” or “CODI”) and describe its treatment under the Tax Code (IRC§61(a)(12)).
  2. Identify the principal exception to the COD income provision of IRC§61(a)(12).
  3. Explain how CODI excluded from gross income must be treated.
  4. Explain the difference between limits on tax attribute reduction for bankrupt vs. insolvent debtors.
  5. List the seven tax attribute reductions in order.
  6. Define the Section 382 limitation and explain how to calculate the basic annual limitation.
  7. Explain the alternative bankruptcy limitation of Section 382(l)(5) and identify when it applies.
  8. Discuss and identify proper treatment of built-in losses vs. built–in gains.

Presenters: Steve Joffe, FTI Consulting

Price $65
CPE Credit Recommended, 1 CPE Credit hour(s), field of study—Taxes - Technical;
Knowledge level Basic: Most beneficial to CPAs and other financial advisors new to a skill or attribute, including individuals at staff or entry level in an organization as well as seasoned professionals with limited exposure to the area.
Additional Info Online registration and payment of fee will allow materials to sent to the participant’s email address and the participant must submit request for CPE credit after completing the requirements (instructions enclosed with materials). Presenters’ PowerPoint slides for reference are included with materials. If unable to register online, participants may call AIRA’s office at (541) 858-1665 to order.
Format Digital Materials
Prerequisites None
Advance prep None

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Requests for refunds must be received within 10 days after receipt of course subject to a $25 cancellation fee and return of all materials in good condition.

Question Resolution

For assistance regarding refunds, program cancellations, or other program related matters, please contact our offices at (541) 858-1665 or by email

National Registry of CPE Sponsors

"Association of Insolvency and Restructuring Advisors" is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: