That credit card debt you had was canceled or forgiven — yay! But you might have to pay the Internal Revenue Service taxes on it anyway, so — boo. You'll find out you owe money when a 1099-C tax form comes in the mail from your lender, and probably not before then.
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DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
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