United States Bankruptcy Court, E.D. Michigan, Northern Division.
OPINION REGARDING DEDUCTIBILITY OF POSTPETITION INTEREST
ARTHUR J. SPECTOR, Chief Judge.
Introduction
The Internal Revenue Code ("IRC") generally permits corporations to deduct from income subject to federal tax "all interest paid or accrued within the taxable year on indebtedness." 26 U.S.C. § 163(a). Dow Corning Corporation ("the Debtor") is an "accrual basis taxpayer." Declaration of Gifford E. Brown at ¶ 30. See generally...
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