Cach LLC caused me IRS problems
Date: Mon, 11/29/2010 - 09:48
Yes, IRS can do this. Anyway, it is your income and they can cat
Yes, IRS can do this. Anyway, it is your income and they can catch hold of you to pay that back.
In the US, any part of the debt forgiven or cancelled is taxable
In the US, any part of the debt forgiven or cancelled is taxable. So, you will have to pay the interest as per the IRS norms and guidelines.