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Part Of Debt Reported To IRS As Income After Settlement

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  • 01-03-2008, 01:37 PM
    bcolella189
    Part Of Debt Reported To IRS As Income After Settlement
    I received a letter offering a settlement on a debt with a collection company. I paid the amount asked and now the IRS has sent me notice that the amount not paid is listed against my taxes as income and I now owe the IRS more money since it is considered income. Is this legal?
  • 01-05-2008, 12:03 PM
    Mr. Knowitall
    Re: Part Of Debt Reported To IRS As Income After Settlement
    That's both legal and typical.
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