Results 1 to 2 of 2

Hybrid View

  1. #1
    Join Date
    Jan 2008
    Posts
    1

    Default 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?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Part Of Debt Reported To IRS As Income After Settlement

    That's both legal and typical.

    1. Sponsored Links
       

Similar Threads

  1. Federal Taxes: Is SSI Income Reported on Insolvency Form 982
    By Perther in forum Tax Law
    Replies: 4
    Last Post: 06-27-2011, 08:46 PM
  2. Modification of Support: Ex Hasn't Reported Income in Years
    By karmic in forum Child Custody, Support and Visitation
    Replies: 8
    Last Post: 09-25-2010, 01:49 PM
  3. Is Unemployment Benefit Part of Income for I-864
    By mjsantos in forum Visas for Business, Tourism and Family
    Replies: 1
    Last Post: 07-30-2010, 08:17 AM
  4. Are Bonuses Part of Gross Income
    By baby7 in forum Child Custody, Support and Visitation
    Replies: 6
    Last Post: 12-02-2008, 07:41 PM
  5. Debt Collectors: Creditor sold debt; old debt reported as new
    By NightOwl in forum Debts and Collections
    Replies: 2
    Last Post: 03-04-2005, 08:17 AM
 
 
Sponsored Links

Legal Help, Information and Resources