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Monthly Archives: November 2014
Debt Forgiveness, Form 1099-C and Bankruptcy; You May Have Options to Legally Avoid Tax
Persons who are able to negotiate debts and have them forgiven or reduced are often surprised to find that the IRS considers forgiveness of debt to be income and therefore taxable. Where the amount cancelled is $600 or more the … Continue reading
Posted in Bankruptcy, Bankruptcy Lawyer Denver
Tagged bankruptcy information, credit report, lawyer
Comments Off on Debt Forgiveness, Form 1099-C and Bankruptcy; You May Have Options to Legally Avoid Tax