Difference between revisions of "Dealing With Tax Problems: Easy As Pie"

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Revision as of 23:08, 30 October 2024

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In previously mentioned scenario, that you have to saved $7,500, but the government considers it income. If your amount is now over $600, then your creditor can be send a form 1099-C. How should it be income? The government considers "debt forgiveness" as income. So how can you receive out of skyrocketing your taxable income base by $7,500 with this settlement?

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