Re: Charge offs and income tax return
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by Why Chat (209.240.198.61) on January 08, 2003 at 07:12:33:
In Reply to: Charge offs and income tax return posted by Star on January 07, 2003 at 20:22:29:
You will receive NO form for IRS for a charge-off. The ONLY time you MAY be obligated to pay tax on a debt is IF you make a "settlement" with the original creditor for LESS than what you owe, AND they do not turn the balance due over to a collection agency.
Follow Ups:
Post a Followup
|