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American Bar Association Young Lawyers Division The 101 Practice Series: Breaking Down the Basics © 2010 American Bar Association. All Rights Reserved. Tax Consequences to Consider When Restructuring Debt By Kathleen Rudis Introduction Federal income tax issues lurk behind any debt restructuring or debt workout that a creditor may arrange with a troubled borrower. In the current economic downturn, there is a growing need for creditors to work with troubled borrowers to...

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