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What does CODI stand for?

CODI stands for Cancellation of Debt Income (US IRS)

This definition appears frequently and is found in the following Acronym Finder categories:

  • Military and Government
  • Business, finance, etc.

See other definitions of CODI

Other Resources:
We have 14 other meanings of CODI in our Acronym Attic

Samples in periodicals archive:

If the person whose debt is discharged is not an employee of the applicable entity, but the debt discharge is nonetheless compensation for services, the compensation should be reported on a Form 1099-MISC, Miscellaneous Income (because under these circumstances, it is compensation, not cancellation of debt income; cancellation of debt income should not be reported on Form 1099-MISC.
Chapters cover the bankruptcy estate, payment of trust fund taxes, bankruptcy court proceedings, discharge of taxes, consequences of cancellation of debt income, partnerships and S corporations, and corporate reorganization under the bankruptcy code.
The election provided in the American Recovery and Reinvestment Act of 2009 (ARRA) to defer until 2014 and spread over five years cancellation of debt income (CODI) has been touted as an attractive relief option for taxpayers struggling with cash flow problems.