The farm debt crisis of the 1980’s left numerous legacies, not the least of which is the continuing discharge of indebtedness from formal and informal resolutions of excessive debt. The various rules on when discharge of indebtedness occurs have created surprising and painful results for some taxpayers.
"When Discharge of Indebtedness Occurs in Bankruptcy,"
Agricultural Law Digest: Vol. 4
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol4/iss2/1