The ABA Tax Section offers a teleconference and webcast today on Hot Topics in Bad Debt from 1:00 – 2:30 p.m. EST:

Please join our panelists as they cover a variety of character and timing considerations under § 166 (for bad debts) and § 165 (both worthless securities and losses generally), including:

• When is loss on a debt instrument subject to § 165, rather than § 166 (and what kind of character whipsaws does this present)
• What is sufficient to constitute a "charge off" under § 166; and
• What is the character of future recoveries after the debt has been charged off

Speakers:

• David Garlock (Ernst & Young, Washington, D.C.)
• Rebecca E. Lee (PricewaterhouseCoopers, Washington, D.C.)
• Patrick E. White (Senior Counsel, IRS)