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Tax Warning

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Here’s a tax warning. If you are able to negotiate forgiveness of a portion or complete debt, the amount forgiven can be considered income, and you’ll owe income taxes. [MSN]

Updated December 28, 2010 and originally published July 20, 2007. If you enjoyed this article, subscribe to the RSS feed or receive daily emails. Follow @flexo on Twitter and visit our Facebook page for more updates.

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About the author

Luke Landes, also known as Flexo, is the founder of Consumerism Commentary. He has been blogging and writing for the internet since 1995 and has been building online communities since 1991. Find out more about him and follow Luke Landes on Twitter. View all articles by .

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