Many taxpayers have been able to reduce their taxes in transactions involving contingent liabilities, leading Congress to change subchapter C and the Treasury Department to change the regulations ...

lthough in the past the government won a number of important victories in its ongoing attempt to stop abusive tax transactions, it has continued to lose on contingent liability transactions. Recently, ...

When a disaster occurs, a country's financial obligations are triggered to repair the damage that has occurred. These obligations are called contingent liabilities. To understand more about the ...