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
Read MoreTag: cancellation of debt
From Depreciation To Refunds, What You Can Learn From Trump’s Tax Returns
I haven’t seen President Trump’s tax returns. I’m going to start there. No matter how many times I’ve been asked today to offer my “take”
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Taxes From A To Z (2017): C Is For Canceled Debt
It’s Taxes from A to Z. Today: C is for canceled debt.
Read MoreUnderstanding Your Tax Forms 2016: Form 1099-C, Cancellation of Debt
Trying to figure out your tax forms? Here’s the next in my handy-dandy forms primer: 1099-C, Cancellation of Debt.
Read MoreYour Last Minute Tax Questions Answered
Note: I’m constantly updating as questions come in – so check back throughout the day! I hear you! I’m getting lots of last-minute questions today
Read MoreTaxes From A To Z (2013): Z Is For Zombie Debt
Z is for Zombie Debt. Zombie debt. Even the name conjures up the specter of bloodsuckers. And it’s kind of apt. Zombie debt is the
Read MoreYou Are Not Alone: R. Kelly Joins Taxpayers Who Have Lost Homes Due To Foreclosure
R&B artist R. Kelly took a huge hit to his finances this week when his 20,000 square foot dream home was auctioned for less than
Read MoreTaxes From A To Z: I Is For Insolvency
I remember the first phone call that I received about insolvency exceptions. A taxpayer called to ask me how to protect his daughter who had
Read MoreIRS Releases New Insolvency Pub
The IRS has updated Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals). I know, you’re thinking “So what?” Well, the “So what?” is
Read MoreAsk The Taxgirl: 1099-C Income
Taxpayer asks: Hello, Taxgirl Hope you are doing well! I have a Question I got a 1099-c form from wells fargo for about 5000 will
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