Debt Cancellation

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DISCLAIMER

ARCHIVED SEMINARS ARE FOR VIEWING PURPOSES ONLY.

THE SEMINAR CONTENT IS NO LONGER CURRENT AND DOES NOT QUALIFY FOR ANY CONTINUING EDUCATION CREDIT.

ARCHIVE DATE: JULY 2010

The Taxpayer Advocate Service presented this seminar at the 2008 IRS Nationwide Tax Forum, and the information was correct at the time of recording.

Has your client received a 1099-C? Is your client in foreclosure? The tax treatment of cancelled debts is extremely complex and poses a significant challenge to affected taxpayers. In this seminar, a panel discusses debt cancellation and provides tools to help your clients accurately report this item on their tax return. Please download Publication 4681, Canceled Debts, Foreclosures, Repossessions, and Abandonments (for Individuals), to follow the example in the seminar.

To view this archived seminar, click below