If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts ...

While debt settlement can reduce the amount of money you owe creditors, you could be liable for taxes on the canceled debt—but it depends on the type of debt.

In 2007, Congress enacted a law that provides some relief from taxation of forgiven debts. The law is in effect until the end of 2012. Therefore, it may be beneficial for those tax payers who lost ...

Struggling homeowners now have tax relief. If your mortgage debt is partly or entirely forgiven during 2007, 2008 or 2009 you may be able to claim special tax relief by filling out Form 982 and ...

The Internal Revenue Service could collect more taxes from forgiven mortgage debt by expanding its information reporting and revising some of its forms, according to a new study from the General ...

There is now tax relief for struggling homeowners. If your mortgage debt is partly or entirely forgiven during 2007, 2008 or 2009 you may be able to claim special tax relief by filling out Form 982 ...

There was an article that circulated recently suggesting that bankruptcies didn’t peak as expected. If the folks who are reaching out to me are any indication, just give it time. With unemployment ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...