Soil Water Movement Water movement in soil is from a zone of relatively high to low water potential. Movement may occur by saturated or unsaturated liquid flow or in the vapor phase. Total water potential under saturated conditions may include gravitational and pressure components.
Whether the taxpayer is insolvent is a vital consideration in determining if debt forgiveness results in income to the taxpayer. However, the code, IRS, and the courts have not provided an adequate definition of the term, and there is confusion as to what assets and liabilities are to be included in its determination.
In broad and everyday terms, a person is insolvent when he is unable to pay his debts. In legal terms, however, the test for insolvency is whether or not the debtorâs liabilities, fairly estimated, exceed his assets, fairly valued.Inability to pay debts is, at most, merely evidence, not conclusive in itself, of insolvency.n legal terms, however, the test for insolvency is whether or not the debtorâs liabilities, fairly estimated, exceed his assets, fairly valued. Inability to pay debts is, at most, merely evidence, not conclusive in itself, of insolvency.