Roger Russell recapsÂ the decision at Accounting Today. The Tax Court, in a recentÂ summary opinion, ruled that an individual did not have cancellation of debt income in the year that a collection agency issued him a Form 1099-C and stopped its automated collection efforts. The IRS determined a deficiency in David Stewartâ€™s 2008 income tax of $2,138, based on a Form 1099-C issued by the collection agency. The ...Read more ›
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