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Revision as of 15:34, 12 September 2026

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I've had clients ask me to to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) to enhance to do such an issue. Just like your employer is required to send a W-2 to you every year, a lender is had to send 1099 forms to any or all borrowers who have debt forgiven. That said, just because lenders are hoped for to send 1099s does not imply that you personally automatically will get hit by using a huge government tax bill.

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