Is Your Foreclosure Really Behind You?

Mortgages

Is Your Foreclosure Really Behind You?

Is Your Foreclosure Really Behind You?

As Yogi Berra once said, “It ain’t over till it’s over.” Last year, the phenomena of “zombie deeds” came to light when it was discovered that homes vacated by their owners under the belief that they had been foreclosed really weren’t foreclosed at all and the owners still owned the house. Now the specter of… Read More

The Little-Known Form for Avoiding a Big Tax Bill

Personal Finance

The Little-Known Form for Avoiding a Big Tax Bill

The Little-Known Form for Avoiding a Big Tax Bill

An estimated 5.75 million forms reporting “cancellation of indebtedness income” have been sent to taxpayers this year. But how many of these 1099-C forms are correct? Given the complaints we’ve received on our blog, we suspect the number of mistakes is significant. Here are just a few examples of some of the mistakes our readers… Read More

I Can’t Pay My Taxes. What Do I Do?

Managing Debt

I Can’t Pay My Taxes. What Do I Do?

I Can’t Pay My Taxes. What Do I Do?

As much as we’d all like a refund this tax season, not everyone gets money back from the IRS. If you’re not prepared for it, owing money on your taxes can seriously stress your budgets and, potentially, your credit. If you’re not sure whether you’ll owe or be owed, there’s no better time than now… Read More

The Tax Form Everyone Fears

Managing Debt

The Tax Form Everyone Fears

The Tax Form Everyone Fears

If you settled an outstanding debt in 2013, you may have more paperwork to fill out. Creditors who forgive debts of $600 or more are required to file a Form 1099-C Cancellation of Debt, because the IRS says you must include canceled debt in your gross income. You then have to pay taxes on that… Read More

The Complete Guide to Finding Tax Help

Personal Finance

The Complete Guide to Finding Tax Help

The Complete Guide to Finding Tax Help

Are you going to file your tax return on your own this year, or will you need a little help? Even if you are doing your own taxes you may find yourself stumped, if for example; There have been some major changes in your life during the last year: divorce, marriage, adoption of a child,… Read More

Form 982: The Way to Battle a 1099-C

Managing Debt

Form 982: The Way to Battle a 1099-C

Form 982: The Way to Battle a 1099-C

If you have received one or more of the estimated 5.5 million 1099-C forms being sent to taxpayers this year, then you may find yourself wrangling with Form 982. That’s the form that taxpayers who qualify to have the income listed on the 1099-C form excluded from their debt should fill out and include with… Read More

What Is a 1099-C? Your Top 11 Questions Answered

Credit 101

What Is a 1099-C? Your Top 11 Questions Answered

What Is a 1099-C? Your Top 11 Questions Answered

“What is a 1099-C?” That’s the question millions of taxpayers will be asking as these forms land in their mailboxes this year. An estimated 5.5 million 1099-C forms will be filed for the 2012 tax year. If you received one of these forms, your first reaction may have been one of panic. “Why did I… Read More

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