In some cases, debt can be canceled or forgiven. So what is canceled debt and what debts can be canceled? Read on to find out ...

The court held that it lacked subject-matter jurisdiction over a taxpayer’s refund claim that did not meet the full-payment ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

The district court held that Dicks could not recover his 2014 and 2015 taxes under the Flora full–payment rule since he did ...

The Ninth Circuit, affirming the Tax Court, recently held that to deduct a nonbusiness bad debt, the debt must be “wholly worthless,” and if the debtor reports cancellation-of-debt (COD) income, the ...

If you were to file for bankruptcy, you might experience an unwelcome shock in finding out this does not discharge all forms of debt. Those who carry certain debts are still held responsible for ...

Could your debt be reduced or forgiven? Take our financial relief quiz. Find my match Could your debt be reduced or forgiven? Take our financial relief quiz. Many people believe they will walk away ...

Bankruptcy is a legal procedure that allows individuals or businesses unable to pay their debts to seek relief from some or all of them. In the U.S., bankruptcies are often categorized as Chapter 7, ...

We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. That's where filing for bankruptcy comes in. Bankruptcy can offer a ...

A bankruptcy judge in Buffalo has wiped out the $56,299 debt of a woman who borrowed $16,900 25 years ago for an education she never completed. A bankruptcy judge in Buffalo has wiped out the $56,299 ...