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

5 Year-End Tax Tips for 2012

Personal Finance

5 Year-End Tax Tips for 2012

5 Year-End Tax Tips for 2012

Taxes are my personal finance Achilles heel. Every year, I promise myself I’ll be better organized than the last. With freelance income and a rental property — in addition to the usual stuff (mortgage and charitable deductions, for example) I generate a fair amount information that needs to be sorted and organized so that my... Read More

The Most Outrageous Tax of the Year

Personal Finance

The Most Outrageous Tax of the Year

The Most Outrageous Tax of the Year

It just may become the latest outrage during a year of outrages. At the precise moment when the federal government finally delivers a modicum of justice and some economic relief to millions of homeowners victimized by the nation’s largest banks, the government threatens to beat those victims over the head with a punitive old favorite... Read More

What to Do When Debt Collectors Break the Rules

Managing Debt

What to Do When Debt Collectors Break the Rules

What to Do When Debt Collectors Break the Rules

Getting a call from a debt collector is never pleasant. But Credit.com reader Sara Shannon is getting a double threat. Not only is a collections agency threatening her with a lawsuit, it also plans to sick the IRS on Shannon’s disabled, 84-year-old mother. “He is threatening to file a 1099-C and said the IRS will... Read More

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