Bankruptcy is not an unfamiliar term to most people in the US. It is usually an option for people who are unable to settle their debts. It helps in making a plan that will enable them...
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...
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
Forgiveness of debts, also known as debt cancellation, is a relief to anyone who has been in debt. But what happens afterward with the taxes? When your debt is canceled or forgiven,...
Posted by CORE PERFORMANCE on 07/31/2021
Billions of dollars in property taxes go unpaid every year, a major problem for local municipalities that depend on this money to fund public services. Instead of waiting months or...
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...
Many U.S. businesses will face the threat of increased exposure to unclaimed property in 2021 as states and private parties step up audits, litigation, and legislative changes aimed...
Posted by One Stop Taxes on 02/23/2021
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...