Articles Comments

Debt Relief – Insolvency – Bankruptcy Information » Insolvency » Debt Resolution FAQ13 What are the Tax Implications of DebtPro123

Debt Resolution FAQ13 What are the Tax Implications of DebtPro123


Clients are advised to consult a tax advisor to determine whether their individual circumstances may allow them to exclude any such discharge of indebtedness income from their reportable income–due to insolvency. see also www.justsettlemydebts.com For more information on tax ramifications personally regarding a client, you should consult a CPA or Tax Attorney and refer to the IRS website www.ustreas.irs.gov IRS Publication 908 Bankruptcy Tax Guide and IRS Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness available on the IRS Website.

RELATED POSTS:

  1. The Debt Resolution Handbook – How to beat a credit card lawsuit. A step-by-step guide to winning a lawsuit yourself. Debt Settlement Credit Bureau Disputes Request for Validation Stop the nasty debt...

  2. Mortgage Forgiveness Debt Relief Act: The 411 If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be...

  3. IRS form 982 for insolvency? I am filing 982 for discharge of indebtedness due to the extent insolvent (not title 11). My liabilities far outweight...

  4. Potential Implications of Insolvency for Directors Here is a note of the issues that a director of an insolvent company or potentially insolvent company has to...

  5. Debt Solutions For 2010 ? The Best Debt Relief Alternatives To Filing Bankruptcy Debt Solutions and Debt Relief Programs Debt…the word generally avoided, especially in today’s economic climate. However, there are many reasons...

Written by

Filed under: Insolvency · Tags: , , , ,

Leave a Reply

Connect with Facebook

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Not finding what you're looking for?
Do a custom search of our entire site:

Get Adobe Flash player