Amounts forgiven through debt settlement may be taxed as income by the IRS. An IRS worksheet shows how to avoid paying taxes on debt settlement when you're insolvent. Taxpayers who are insolvent can ...

As we approach the end of the year, it’s important to make sure your tax situation is in order. Many people don’t think about their taxes until spring, since tax returns aren’t due until April 15. But ...

The IRS expects you to pay taxes on your income throughout the year, either through withholding from your paycheck or estimated quarterly payments. If you didn’t pay at least 90% of your taxes owed ...