Text this: The tax treatment of haircuts in financial reorganizations

 _____       ___      _  __     ___     _    _   
|  __ \\    / _ \\   | |/ //   / _ \\  | |  | || 
| |  \ ||  / //\ \\  | ' //   | / \ || | |/\| || 
| |__/ || |  ___  || | . \\   | \_/ || |  /\  || 
|_____//  |_||  |_|| |_|\_\\   \___//  |_// \_|| 
 -----`   `-`   `-`  `-` --`   `---`   `-`   `-`