If you have recently settled on your credit card debt for more than $600 in savings, the IRS considers this forgiveness of debt, and you are in for a scary surprise. You will soon be in receipt of a 1099-C from the IRS and you will be assessed a tax liability because of this forgiveness of debt. THIS IS NO JOKE. The IRS is now considering forgiveness of debt such as credit card or mortgage debt as INCOME. Yes, income that you WILL BE TAXED ON. If this is you, contact Kutler Tax Resolution immediately so that we can protect you, check the validity of this claim, and see if you might qualify for a settlement offer.
Call us at 720-398-6087 or visit us at www.kutlertaxresolution.com