January 26, 2021 2021-0181 Tax M&A Update for December 2020 Tax M&A Update is a monthly newsletter that provides a summary of developments in the marketplace, leading technical developments, and other thought leadership notes in the area of mergers and acquisitions (M&A) taxation and general corporate taxation. Highlights of this edition include: — No COD income from discharged debt of disregarded entity — Congress reverses IRS position on Paycheck Protection Program expense deduction — Company required to use accrual reporting for promissory note ——————————————— ATTACHMENT Tax M&A Update 
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