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2. 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 ...

3. Cancellation-of-debt income - Wikipedia

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

   If COD income is excluded from gross income, the taxpayer's tax attributes must be reduced, [33] which is done through IRS Form 982 (Reduction of Tax Attributes Due to Discharge of Indebtedness). A taxpayer's tax attributes are, and must be reduced in the following order: [34] Net operating loss (NOL) – Any NOL of the taxable year of the ...

4. What to know about financial insolvency

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

   Lenders or other creditors must submit Form 1099-C to the IRS when they forgive or cancel a debt of $600 or more. ... you must file Form 982. You can only claim balance-sheet insolvency to the IRS ...

5. Debt settlement - Wikipedia

   en.wikipedia.org/wiki/Debt_settlement

   Tax consequences — Another common objection to debt settlement is that debtors whose debts are partially canceled outside the bankruptcy system will need to report the canceled portion of the debt as taxable income. (IRS Publication Form 982) The Internal Revenue Service (IRS) considers any amount of forgiven debt as taxable income. Under the ...

6. IRS tax forms - Wikipedia

   en.wikipedia.org/wiki/IRS_tax_forms

   As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ - see below for explanations of each) used for such returns.

7. Tax returns in the United States - Wikipedia

   en.wikipedia.org/wiki/Tax_returns_in_the_United...

   Form 1040, U.S. Individual Income Tax Return; Form 1040A, U.S. Individual Income Tax Return; Form 1040EZ, Income Tax Return for Single and Joint Filers with No Dependents; Form 1041, U.S. Income Tax Return for Estates and Trusts (for 1993 and prior years, this was known as "U.S. Fiduciary Income Tax Return"); Form 1065, U.S. Return of ...