Due to rising interest rates and changes in the use of real estate, certain segments of the real estate industry are experiencing distress. The tax considerations around debt workouts including modifications are complex and may lead to unexpected results for borrowers and lenders. In this webcast, we will address the US federal income tax considerations applicable to borrowers and lenders in connection with debt workouts and modifications.
The following topics will be discussed:
- The application of the debt cancellation rules to borrowers
- Exceptions to debt cancellation income
- The application of tax rules to foreclosures
- The application of the debt modification rules to lenders
Panelists
- Sarah Ralph, Principal, National Tax Department, Real Estate and Partnerships, Ernst & Young LLP
- Michael Yaghmour, Principal, National Tax Department, Capital Markets, Ernst & Young LLP
- Andrew Cohn, Senior Manager, National Tax Department, Real Estate and Partnerships, Ernst & Young LLP
EY webcast managed and produced by Ernst & Young LLP’s Tax Technical Knowledge Services Group, Washington, DC: Lynn Fairfax