Paying taxes on written off amounts
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Posted by Saint22 (24.197.86.54) on October 07, 2002 at 15:17:21:
After settling with my credit card companies, I am going to have about $20,000 written off. I know that I supposed to pay taxes on this amount. Is this going to be taxed at the standard 27%?? If I do not pay taxes what are the odds that I will get caught??
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