Employee-Stockholder's Unpaid Loan Balance.

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    • Abstract:
      The article discusses U.S. tax laws in relation to unpaid loan balances and a taxpayer's ability to claim a business bad debt or a nonbusiness bad debt on a tax return as of November 2012. Various sections of the nation's Internal Revenue Code are addressed, along with the 2012 U.S. Tax Court case of Haury and the legal rights of employees. Individual retirement accounts (IRAs) and tax liability are mentioned, as well as bona fide debts and debtor-creditor relationships.