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Latest revision as of 14:35, 1 September 2026

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Debt forgiveness, you see, is treated as taxable income. Why? From a nutshell, if someone gives serious cash and website pay it back, it's taxable. Just like you have to spend taxes on wages from one job. Perhaps the reason your debt forgiveness is taxable is mainly because otherwise, end up being create a large loophole in tax rule. In theory, your boss could "lend" cash every 2 weeks, and also the end of the majority they could forgive it and none of it would be taxable.

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