What do you believe is the theoretical justification in tax policy for the relief from cancellation
Question # 00094634
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Updated on: 08/19/2015 12:03 PM Due on: 09/18/2015
What do you believe is the theoretical justification in tax policy for the relief from cancellation of indebtedness income provided to insolvent or bankrupt taxpayers. That is, while this form of income is excluded, other sources of income by an insolvent taxpayer, such as compensation or interest and dividend income, remain subject to tax. Support your conclusions with research and reasoning.
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Solution: What do you believe is the theoretical justification in tax policy for the relief from cancellation