Turn Over of Assets to Creditors

Date
1990-03-16
Authors
Harl, Neil
Harl, Neil
Major Professor
Advisor
Committee Member
Journal Title
Journal ISSN
Volume Title
Publisher
Altmetrics
Authors
Harl, Neil
Person
Research Projects
Organizational Units
Journal Issue
Series
Department
Iowa State University Digital Repository
Abstract

From 1983 to 1989, US agricultural debt dropped by about $60 billion as debts were discharged in bankruptcy, obligations were restructured with debt written off and property was deeded back to creditors. The resulting tax consequences created highly significant income tax burdens for debtors and contributed to various proposals for debtor relief from tax liability. However, except for relief from alternative minimum tax liability stemming from capital gains and a new solvent farm debtor rule for discharge of indebtedness, farm and ranch debtors were consigned to working through their debt problems within existing tax law.

Comments
Description
Keywords
Citation
DOI
Source
Collections