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Response to JonathanBrowne (Reply #135)

Sat Nov 10, 2012, 02:21 PM

164. If you do it like that they are "settling" for a lesser amount

and will definitely have to pay taxes on the amount not paid.
Yes, better than having the debt, but might present a tax problem.
I would like to know the way OWS is handling this. Bankruptcy - no tax, settling - tax.
So maybe they have some other method or category worked out with the IRS.

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LineLineNew Reply If you do it like that they are "settling" for a lesser amount
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