Is Forgiven Tax Debt TAXABLE? Is an Offer in Compromise TAXABLE?

Tax Relief with Logan Allec, CPA
12/02/2024 11 min
Is Forgiven Tax Debt TAXABLE? Is an Offer in Compromise TAXABLE?

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Episode Synopsis

If the IRS forgives your tax debt, is that considered TAXABLE INCOME under the tax code, thereby giving rise to MORE TAX LIABILITY? Do you really have to pay MORE taxes if the IRS settles your tax debt for less than you owe through an offer in compromise? In this episode, I answer these questions, showing you what the IRS says about this issue...and why!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/⬇️ Free E-Book:- 7 Secrets About Your Tax Debt the IRS Doesn't Want You to Know: https://choicetaxrelief.ac-page.com/s...

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