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  2. Tax debt relief: How to resolve your debt with the IRS

    www.aol.com/finance/tax-debt-relief-resolve-debt...

    Dealing with tax debt can be overwhelming. Whether caused by financial setbacks or errors in filing, owing money to the Internal Revenue Service (IRS) is a burden that requires careful attention ...

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

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

    The IRS has a number of 1099 debt forgiveness exclusions — which means if your debt falls into an excepted or excluded category, you do not have to include it as ordinary income on your tax return.

  4. What is debt forgiveness? - AOL

    www.aol.com/finance/debt-forgiveness-202301471.html

    The IRS’s strict criteria mean you may not be eligible for the OIC program. Mortgage debt forgiveness Technically, mortgage debt isn’t forgiven unless there is a deficient balance after the ...

  5. Income-driven repayment - Wikipedia

    en.wikipedia.org/wiki/Income-driven_repayment

    Participants in REPAYE were automatically converted, with all past payments counting toward the proposed forgiveness. Annual reporting of income can be done automatically if consent is given for the IRS to electronically report adjusted gross income from tax returns. Income from a married spouse filing separate income tax returns is no longer ...

  6. Offer in compromise - Wikipedia

    en.wikipedia.org/wiki/Offer_in_compromise

    The Offer in Compromise (OIC) program, in the United States, is an Internal Revenue Service (IRS) program under 26 U.S.C. § 7122, which allows qualified individuals with an unpaid tax debt to negotiate a settled amount that is less than the total owed to clear the debt. A taxpayer uses the checklist in the Form 656, OIC package to determine if ...

  7. 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]

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