Difference between revisions of "Offshore Business - Pay Low Tax"

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Revision as of 16:20, 31 October 2024

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In the above scenario, getting . saved $7,500, but the internal revenue service considers it income. In case the amount is passed $600, then creditor must send a form 1099-C. How would it be income? The internal revenue service considers "debt forgiveness" as income. How exactly can a person out of accelerating your taxable income base by $7,500 that settlement?

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