You may want to understand something related to your tax and accounting. I collected and clipped some articles online which may be helpful for you. Please note the article source. If you want more information, please track the source. +++Ting Sun, CPA
3/02/2010
Tax Relief for Debt Forgiveness Income
Please read the brief primer on the COD income rules as well as a general summary of the Act’s relief provision.
http://www.dechert.com/library/Int_Domestic_Tax_SA_02-09_Tax_Relief_for_Debt.pdf
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