The Story of Kirby Lumber: The Many Faces of Discharge of Indebtedness Income

TAX STORIES: AN IN-DEPTH LOOK AT TEN LEADING FEDERAL INCOME TAX CASES, Foundation Press, Forthcoming

Posted: 26 Jul 2002  

Deborah Schenk

New York University School of Law

Abstract

This paper presents the story of United States v. Kirby Lumber Co., 284 U.S. 1 (1931), one of the shortest Supreme Court opinions ever to pack such a wallop. Drawing upon the parties' briefs, judicial opinions in COD cases, and scholarly commentary, it describes what was really involved in the case, the government's and the taxpayer's litigation strategies, the decision-making processes of the courts, and the case's impact on the development of the tax law, including, sixty years later, the fascinating case of Zarin v. Commissioner, 916 F.2d 110 (3d Cir. 1990). The paper will be published as a chapter in a book to be entitled Tax Stories: An In-Depth Look at Ten Leading Federal Income Tax Cases (Foundation Press, forthcoming 2002). Additional financial support for the project has been provided by the American Tax Policy Institute.

The paper will be published as a chapter in a book to be entitled Tax Stories: An In-Depth Look at Ten Leading Federal Income Tax Cases (Foundation Press). Additional financial support for the project has been provided by the American Tax Policy Institute.

Suggested Citation

Schenk, Deborah, The Story of Kirby Lumber: The Many Faces of Discharge of Indebtedness Income. TAX STORIES: AN IN-DEPTH LOOK AT TEN LEADING FEDERAL INCOME TAX CASES, Foundation Press, Forthcoming. Available at SSRN: https://ssrn.com/abstract=320362

Deborah Schenk (Contact Author)

New York University School of Law ( email )

40 Washington Square South
New York, NY 10012-1099
United States
212-998-6163 (Phone)

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