Cooperative Tax Brief: Cooperatives May Offset Bad Debt With Capital Credit Balances
Cooperatives May Offset Bad Debt With Capital Credit Balances
Like for-profit companies, cooperatives encounter bad debt of members and patrons. They can initiate collection efforts to pursue bad debts, but because their members are also their owners, debt collection can be a complicated endeavor. With regard to former members, a recent IRS private ruling discussed an alternative option for recovering outstanding balances.
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