• New Internal Revenue Service and Treasury Department Guidance Benefiting Banks
  • November 18, 2008
  • Law Firm: Skadden, Arps, Slate, Meagher & Flom LLP - New York Office
  • The Internal Revenue Service and the Treasury Department have recently granted special relief to banks (Section 382 Relief) to ameliorate the limitations imposed by the Internal Revenue Code on the use of tax losses inherent in their distressed loan portfolios.