Cancellation of Debt

March’s Tip of the Month focuses on the IRS tax form 1099-C, Cancellation of Debt. Around this time of year, clients begin to see these forms in their mailbox and they often come as a surprise. This tip identifies why the form is issued, some exclusions that may apply and if a client is still legally responsible for the debt. Read more >>

Submitted by: Margaret Henehan, Nancy C. Dreher Fellow

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