Tax Implications Of Debt Settlement Explained скачать в хорошем качестве

Tax Implications Of Debt Settlement Explained

https://www.kindlundlegal.com/ Kindlund Legal LLC 6701 Democracy Boulevard Suite 300 Bethesda, MD 20817 United States 1441 L ST NW 12th Floor Washington, D.C. 20005 United States 145 West Ostend Street Baltimore, MD 21230 United States 20130 Lakeview Center Plaza Suite 400 Ashburn, VA 20147 United States (240) 997-5775 Once you settle a debt, it will remain on your credit report for seven years. After debt settlement, the creditor is required to file a 1099C statement with the IRS and issue you a copy. The amount of settled debt is considered by the IRS as taxable income to you at your tax rate. For example, if you settle a $10,000 debt for $6,000, then the $4,000 difference can be taxed as income. Kindlund Legal LLC is not a tax advisor; you must consult your tax advisor to understand the tax implications of debt settlement. Settled debts remain on credit report for seven years. Creditors file a 1099C statement with the IRS after debt settlement. Settled debt is considered taxable income by the IRS. For More Information About Debt Relief, Please Visit: https://en.wikipedia.org/wiki/Debt_re... Related Videos:    • Debt Settlement: Impact On Garnishment & L...      • Client Information For Effective Debt Sett...      • Debt Settlement Suitability & Benefits      • Credit Card Debt Settlement In MD And VA      • Creditor's Acceptance Of Lower Balances