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  • Goodbye America!: Globalization, Debt and the Dollar Empire


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  • Debt Cancellation and Debt Forgiveness Secrets


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    • debt cancellation FAQ

    Will the IRS forgive debt cancellation if a specific form is used?

    Mar 27, 2011 by SweetiePie | Posted in United States

    im considering a debt cancellation and i will received a 1099-c, I was told that the IRS will not make one pay taxes if you file a specific form, is this true?

    Who should I speak with on this issue, I went to a tax filing company but the

    Get irs publication 4681 and form 982.

    You are not eligible unless you had the debt discharged in bankruptcy or can prove you are insolvent.

    the tax lady | Mar 27, 2011

    There was some forgiveness in the tax reform act for mortgage foreclosures, but probably not in your case. What specifically was it? Credit Card? Then no.
    Chas | Mar 27, 2011

    I have a Best buy credit card and i was just curious as to what a CA debt cancellation charge was?

    Jun 20, 2009 by mathias_akira | Posted in Credit

    I have a best buy credit card and I signed up for the no interest option. Every payment I make lowers my balance but every payment that I send has something called a California debt cancellation fee. its roughly 10 percent of the payment I make. I was

    No, it's not a state tax. It's a fee that HSBC is charging (they finance the Best Buy cards) and it's lousy! Many, many people have complained about it. Here's a segment MSNBC did on it: http://redtape.msnbc.com/2006/02/sameasc ash_read.html

    jle4044 | Jun 20, 2009

    I suggest you call the credit card company and ask them exactly what that fee is. I can't imagine what kind of state tax there would be on a credit card account payment.

    It sounds more like it's some kind of protection plan coverage.
    bdancer222 | Jun 20, 2009

    Cancellation of debt as income?

    Oct 09, 2006 by ... | Posted in United States

    On the 05 1040, I've been told that debt cancellation may not be considered taxable under certain provisions regarding insolvancy...how to do I present this on the return?...I know, I should know this but I'm having a mental block and I want to get this

    i imagine cancellation of debt would only be income if it was previously deducted as an expense

    goldenboyblue | Oct 10, 2006

    debt cancellation news

    Select Medical Corporation Announces Cancellation of Tender Offer and Consent ...

    18.05.12 , Today announced that Select Medical Corporation ("Select") has terminated its previously announced cash tender offer (the "Tender Offer") and consent solicitation (together with the Tender Offer, the "Offer") for any and all of its $345,000,000 aggregate principal amount of 7 5/8% Senior Subordinated Notes due 2015 (CUSIP No. 816196AJ8) (the "Notes"). All Notes tendered in the Offer will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Offer for any tendered Notes.


    Source: MarketWatch (press release)

    Enterprise culls debt following disposals

    18.05.12 Ted Tuppen, CEO said: 'The first half of the trading year has seen a continuation of the improving trends reported at the time of our Interim Management Statement of 9th February 2012. Like-for-like income per pub in the substantive estate (which represents 94% of total pub income) was 1.5% ahead of
    Source: Stock Market Wire

    debt cancellation about


    Number to Know
    Corning Leader - Apr 30, 2011 By Anonymous $15 million: Total amount of money (cash and debt cancellation) that the US paid the French for the Louisiana territory. Today is Louisiana Purchase day; the treaty was signed on this day in 1803, and the purchase was made final two days

    Bulgaria writes of Zambia's debt
    ZNBC - Apr 30, 2011 Finance Minister, Situmbeko Musokotwane says Zambia now has to pay two million United States dollars after it negotiated the debt cancellation. Dr Musokotwane told TV2 in Kalumbila, about 180 kilometres outside Solwezi. He says the debt accrued during

    Morning Minutes: April 30
    Norwich Bulletin - Apr 30, 2011 $15 million: Total amount of money (cash and debt cancellation) that the US paid the French for the Louisiana territory. Today is Louisiana Purchase day; the treaty was signed on this day in 1803, and the purchase was made final two days later.

    Mortgage Loan Forgiveness and the IRS
    Stock Markets Review - Apr 20, 2011 Because of the pervasiveness of this problem of cancellation of debt occasioned by the recession and collapse in the real estate market, Congress enacted the Mortgage Forgiveness Debt Relief Act of 2007. This enactment generally allows taxpayers to

    Home Loan Foreclosure No Longer a Tax Nightmare under the Mortgage Forgiveness ...
    Jornal.us News Agency (blog) - Apr 22, 2011 Home Loan Foreclosure No Longer a Tax Nightmare under the Mortgage Forgiveness ... Fling a bankruptcy and surrendering your home or reducing the 2nd mortgage, short sales and foreclosure can all result in cancellation or forgiveness of debt for the borrower by the IRS. When there is debt cancellation , it can become taxable income to