Lynn WartchowDec 18, 20144 minForeclosureCongress Extends the Income Exclusion for 1099...Congress Extends the Income Exclusion for 1099 ‘Forgiven’ Mortgage Debt to Tax Years 2015 and 2016 For a more detailed discussion on tax...
Lynn WartchowFeb 7, 20143 minDebt CollectionReceived a 1099-Misc on Cancelled Debt? You May Qualify for Exclusion from Taxes if You Were InsolveGenerally, when a debt is owed and at least $600 of the debt is canceled, forgiven or settled for less than the full amount owed, this...
Lynn WartchowJan 2, 20132 minChapter 13How Are Non-Dischargeable Debts Treated in a Chapter 13 Bankruptcy?Non-dischargeable debts are those few categories of personal liabilities which can never be discharged in either form of Chapter 7 or...
Lynn WartchowMar 9, 20123 minDebt CollectionReceived a Form 1099-C on Foreclosed Home? You May Qualify for the Mortgage Forgiveness Exclusion toIf you receive a Form 1099-C reporting ‘debt cancellation’ income after a home foreclosure, you may qualify for the Mortgage Forgiveness...