Read the full-text online article and more details about "IRS to Adopt Controversial Rules on Reporting of Debt Forgiveness" by Henry, Shannon - American Banker, Vol. 160, Issue 104, June 1, 1995By HenryShannonThe Iron and Steel Institute of Japan (ISIJ)...
Tax debt forgiveness is incredible news for many people who have fallen into financial hardship. Better yet, the IRS usually freezes penalties and interest once your tax settlement is approved. As a result, you can avoid wage garnishments. Once approved, your tax liability will decrease almost i...
WASHINGTON -- The banking industry will take on the Internal Revenue Service March 30 at a hearing on the agency's debt discharge reporting proposal. The agency is loading the hearing to address the industry's strong opposition to the rule, which was proposed last December. A panel of six...
The Paycheck Protection Program offers an alluring loan of up to $10M tax free. If you comply, you don’t even have to pay it back. What’s more, there is no forgiveness of debt income when your loan is forgiven, something that is standard fare if you are relieved of paying back deb...
Banks mostly happy with IRS rules on debt forgiveness. (new Internal Revenue Service rules on debt discharges)(Brief Article)de Senerpont Domis, Olaf
Internal Revenue Service (IRS) private letter ruling on the technique known as sale with debt forgiveness. The IRS private letter ruling 200603002 suggests that the agency will view such a strategy, such as when a parent "sells" his home to a child and later "forgives" the debt, as a p...
IRS Issues Guidance for Taxpayers Electing To Defer Debt Forgiveness Income Under 2009 Stimulus LegislationC. Baird Brown