Disclaimer – We are not lawyers or tax professionals and we are not giving legal or tax advice. These are merely some options and information about taxes. Consult an attorney or tax professional in your area to determine all your options. Debt forgiveness may come with a tax consequence. In other words, debt forgiveness is potentially taxable. If you are considering debt forgiveness like debt settlement, or have been through debt forgiveness, you need to understand the possible tax consequences of debt forgiveness. In a previous blog post, we discussed the tax consequences of debt settlement. In this blog post, […]
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