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PRESLAR v. C.I.R.

No. 97-9016.

167 F.3d 1323 (1999)

Layne E. PRESLAR and Sue F. Preslar, Petitioners-Appellees, v. COMMISSIONER OF INTERNAL REVENUE, Respondent-Appellant.

United States Court of Appeals, Tenth Circuit.

February 16, 1999.

Attorney(s) appearing for the Case

John A. Dudeck, Jr. (Richard Farber with him on the brief), Tax Division, Department of Justice, Washington, DC, for appellant.

Ron Lewis, Ruidoso, New Mexico, for appellees.

Before EBEL and BRISCOE, Circuit Judges, and MARTEN, District Judge.

BRISCOE, Circuit Judge.

The Commissioner of Internal Revenue appeals the United States Tax Court's decision to redetermine the tax deficiency assessed against Layne and Sue Preslar for underpayment of 1989 federal income taxes. The Tax Court held the Preslars' settlement of a loan obligation for less than the face amount of the loan did not create taxable income because the contested liability/disputed debt exception to...

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