Forbes contributors publish independent expert analyses and insights. Robert W. Wood is a tax lawyer focusing on taxes and litigation. UNITED STATES - JULY 23: Sen. Elizabeth Warren, D-Mass., and ...

Struggling homeowners now have tax relief. If your mortgage debt is partly or entirely forgiven during 2007, 2008 or 2009 you may be able to claim special tax relief by filling out Form 982 and ...

I read something about foreclosures and taxes in the paper this week (can't find it) What kind of forms do we need to file if we were foreclosed on in 2008? Answer: Julie - The amount of debt forgiven ...

If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income, said the IRS. Normally, debt ...

Dear Tax Talk, I got a Form 1099-C in the mail this week from a bank for a debt cancellation. The loan originated in 1989, and it was charged off in 1990. The representative I talked to said they gave ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...

Forgiveness at the end of an income-driven repayment plan will be taxable beginning in 2026, potentially resulting in large tax bills for low-income borrowers. Most public service and occupation-based ...