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2. Cancellation-of-debt income - Wikipedia

   en.wikipedia.org/wiki/Cancellation-of-debt_income

   Taxpayers in the United States may have tax consequences when debt is cancelled. This is commonly known as cancellation-of-debt (COD) income.According to the Internal Revenue Code, the discharge of indebtedness must be included in a taxpayer's gross income. [1]

3. What is a 1099-C Cancellation of Debt form? - AOL

   www.aol.com/finance/1099-c-cancellation-debt...

   Form 982 lets the IRS know why your canceled debt should be excluded from debt forgiveness taxes so you don’t end up paying more tax than you owe. If you have questions about your 1099-C form or ...

4. What to know about financial insolvency

   www.aol.com/finance/everything-know-financial...

   Insolvency is a difficult financial situation, but it doesn’t have to last forever. ... if your Form 1099-C reports $1,000 of canceled debt and your liabilities are $500 more than your assets ...

5. Mortgage Forgiveness Debt Relief Act of 2007 - Wikipedia

   en.wikipedia.org/wiki/Mortgage_Forgiveness_Debt...

   Homeowners should expect to receive Form 1099-C, Cancellation of Debt showing the cancelled debt amount. All taxpayers, including those who qualify for the exemption, will get the form in the mail if they had debt cancelled. Those who qualify for the exclusion will be required to file Form 982 with their taxes for that year.

6. How to dissolve an LLC

   www.aol.com/dissolve-llc-153000360.html

   Mail the form to: Comptroller of Public Accounts, P.O. Box 149348, Austin, TX 78714-9348. ... unresolvable differences between members that can't be resolved, or lawsuits that lead to insolvency. ...

7. Insolvency - Wikipedia

   en.wikipedia.org/wiki/Insolvency

   Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example ...