How Does Tax Relief Work: Difference between revisions
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Revision as of 16:57, 21 September 2026
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I've had clients ask me to utilize to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) to enhance to do such a thing. Just like your employer is usually recommended to send a W-2 to you every year, a lender is needed send 1099 forms to every borrowers who've debt forgiven. That said, just because lenders are hoped for anjing to send 1099s doesn't mean that you personally automatically will get hit using a huge government tax bill.
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