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  2. What is a 1099-C Cancellation of Debt form? - AOL

    www.aol.com/finance/1099-c-cancellation-debt...

    Although there is a statute of limitations on old debt, there’s no statute of limitations on 1099-C forms—which means that lenders and debt collectors occasionally send out 1099-C forms on ...

  3. Credit card debt: Five years Medical debt: 15 years (for contracts created after July 15, 2014; otherwise, 10 years) Auto loan debt and retail installment sales contracts: Four years Mortgage debt ...

  4. Tax debt relief: How to resolve your debt with the IRS

    www.aol.com/finance/tax-debt-relief-resolve-debt...

    Non-direct debit payments: the setup fee is $130 if you apply online. For mail, in-person or phone applications, this fee comes down to a total of $225. If you’re a low income taxpayer, you may ...

  5. Cancellation-of-debt income - Wikipedia

    en.wikipedia.org/wiki/Cancellation-of-debt_income

    Taxpayers in the United States may have tax consequences when debt is cancelled. This is commonly known as cancellation-of-debt (COD) income. According to the Internal Revenue Code, the discharge of indebtedness must be included in a taxpayer's gross income. [1] There are exceptions to this rule, however, so a careful examination of one's COD ...

  6. Public Service Loan Forgiveness - Wikipedia

    en.wikipedia.org/.../Public_Service_Loan_Forgiveness

    Public Service Loan Forgiveness. The Public Service Loan Forgiveness (PSLF) program is a United States government program that was created under the College Cost Reduction and Access Act of 2007 signed into law by President George W. Bush to provide indebted professionals a way out of their federal student loan debt burden by working full-time ...

  7. Mortgage Forgiveness Debt Relief Act of 2007 - Wikipedia

    en.wikipedia.org/wiki/Mortgage_Forgiveness_Debt...

    The Bipartisan Budget Act of 2018 renewed it for all of the tax year 2017 and offered a wide range of individual and business tax benefits that had expired at the end of 2016, including the "exclusion from gross income of discharge of qualified principal residence indebtedness (often, foreclosure-related debt forgiveness), claimed on Form 982." [2]

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