Re: Question about settlements with Credit Card Company

Posted by pearl (68.113.73.108) on July 02, 2002 at 10:05:25:

In Reply to: Re: Question about settlements with Credit Card Company posted by Why Chat on July 01, 2002 at 20:08:57:

I appreciate all of the advice. I had no idea that the unpaid balance would be considered 'income' by the IRS. And it is awful that it has to be. If you can't claim it as an expense on your IRS form, why in the world would you have to claim it as income. One more way we get screwed by the IRS.

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