Surprise! The IRS Counts Forgiven Debt As Taxable ‘Income’
Consumers are receiving so-called 1099-c "cancellation of debt" tax notices, informing them that the IRS plans to count their forgiven or canceled debt as “incomeâ€.
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Consumers are receiving so-called 1099-c "cancellation of debt" tax notices, informing them that the IRS plans to count their forgiven or canceled debt as “incomeâ€.
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