ONE END OF YEAR SURPRISE TOO MANY

By , Posted on Jan 19, 2011
credit card debt
credit card debt

Considering Debt Settlement?

Expect a 1099 at the end of the year that the settlement is completed. This fact is given to anyone who calls and inquires about debt settlement vs a Debt Management Program. It always manages to get an astonished: “I did not know that!” Yes, The IRS treats your settled debt as income, thus you are liable for the taxes on the “INCOME”.
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