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Get IRS Publication 4681 2019

Otographs and calling 800-THE-LOST (800-843-5678) if you recognize a child. Introduction This publication explains the federal tax treatment of canceled debts, foreclosures, repossessions, and abandonments. Generally, if you owe a debt to someone else and they cancel or forgive that debt for less than its full amount, you are treated for income tax purposes as having income and may have to pay tax on this income. Note. This publication generally refers to debt that is canceled, forgiven, or dis.

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