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In total, these California borrowers will have about $114.8 million in debt canceled. Across the United States, the Biden administration is waiving $1.2 billion in debt for 152,880 people under ...
Roughly 165,000 undocumented workers in California were age 55 or older in 2019, according to the UC Merced Community and Labor Center. California undocumented seniors could get cash assistance ...
Mary Carr, who is 85 and lives in Galt with her husband, relies on $39,000 a year in Social Security as their only income. That makes her one of millions of Californians who don’t make enough to ...
The California Medical Assistance Program (Medi-Cal) is California's Medicaid program serving low-income families, seniors, persons with disabilities, children in foster care, pregnant women, and childless adults with incomes below 138% of federal poverty level.
To decide which debt relief option is best, evaluate how each will impact your credit score and long-term financial health. Credit counseling can help you choose.
Therefore, a cancellation of a $20,000 debt will not need to be reported as gross income. However, if a debt of $60,000 was cancelled, the taxpayer will have $10,000 in gross income because their total liabilities no longer exceed their total assets (cancelling $60,000 in debt means the taxpayer now has only $40,000 in liabilities).
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