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IRS Statistics on Cancelled Debt and Tax Form 982

IRS Form 1099-C: What You Really Need to Know About Canceled Debt and Taxes Ever gotten that “Congrats, your debt is forgiven!” call… only to later receive a letter from the IRS saying: “That’ll be $2,753 in taxes, please.” 😳…

I Forgot to File my Tax Return

It is estimated that each year over ten million people do not file their income taxes. The reasons for not filing vary from procrastination, not understanding the process, not having the funds to pay their taxes, or deliberately not filing.…