‘Insolvency’ Category

Debt Cancellation of Indebtedness and the States

Easy Plugin for AdSense by Unreal One important factor to consider is whether your state has conformed to federal tax law when it comes to the applicable exclusion.  So it is possible that you may qualify for the exclusion at the federal level, but you still could have a tax problem at the state level.  […]

 
Disclaimer: To ensure compliance with the requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this communication is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein. The information contained within this website is provided for informational purposes only and is not intended to substitute for obtaining accounting, tax, or financial advice from a professional accountant. Presentation of the information via the Internet is not intended to create, and receipt does not constitute, an accountant-client relationship. Internet subscribers, users and online readers are advised not to act upon this information without seeking the service of a professional accountant.