Credit counseling is a process engaged in to help people especially debtors to settle their debts through education, counseling on budget, planning and also giving them enlightenment...
If you need to file for an individual federal income tax return, you will now use the IRS Form 1040 or 1040-SR for Seniors. The other alternatives above: Forms 1040A and 1040EZ ended...
IRS Form 1099-A is an informational declaration that reports the application of a property. Homeowners typically receive an IRS Form 1099-A from their lender after their home has been...
When consumers do not pay for loans, primarily cars, they are subject to a repossession. The damage caused by repossession goes far beyond the loss of the vehicle.What is Repossession?The...
Posted by Taxes Made EZ Inc on 05/18/2020
Sometimes a debtor could be overwhelmed by debt repayments and may need to negotiate for debt cancellation. If you get one, the IRS considers it an income, and it is taxable. That's...
Posted by CORE PERFORMANCE on 05/22/2022
If a creditor acquires your property through foreclosure and evicts you, or if you surrender your property before the eviction, the lender will send you an IRS Form 1099-A Acquisition...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Debts with the IRS come in many shapes and sizes. The most common debts owed to the IRS are back or unpaid income taxes. Now that more people are working full or part-time, overdue...
If you are contemplating going with a reverse mortgage or HECM loan, it is imperative to research this unique retirement option's financial impact. A reverse mortgage allows you...