The tax man cometh. Just because you’re square with your creditors doesn’t mean you’re square with the government. forgiven debt is almost always considered to be taxable income. How can debt be income? you may ask. Well, I suppose you have to look at it this way – you were provided with money, goods, or services in the amount of your debt.
Featured In. In a nonjudicial foreclosure, the third party who normally handles the foreclosure process is called a "trustee." In theory, a foreclosure trustee is a neutral party, but the lender or mortgage servicer usually chooses the trustee, who is often affiliated with the lender or the lender’s attorney.
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WASHINGTON — You’ve lost your job and your mortgage company is threatening foreclosure. Then the tax man comes calling. illness or significant medical bills" might be able to have collection.
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· The tax man cometh. january 13, 2016 No Comments. It’s getting close to that time again.tax time. April may seem far away right now, but it will be here before you know it. At the end of January everyone will be getting their W-2 forms and then the “fun” can begin. Here are some tips for a successful tax season:
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Also, beware if you owe more than expected or collection action has been taken. Be careful about the person you choose to do your taxes as well. Paid preparers are required to sign forms. Never sign a.