On 20 May 2016, the U.S. Joint Committee on Taxation published a report providing an overview of the tax treatment of corporate debt and equity. The Committee is a nonpartisan committee of the U.S. Congress, and the report was prepared for a 24 May Senate Finance Committee hearing titled "Debt and Equity: Corporate Integration Considerations". The first part of the report presents an overview of Federal income tax rules relating to debt and equity, and some of the statutory limitations on the tax benefits of each. The overview includes the treatment of both issuers and holders, and the treatment of...