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 FL RTS 72 Form 2021-2025

Rt Affidavit 2021-2025 Form

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Instructions and help about FL RTS 72 Form

hi i'm attorney robert peters and we're going to talk about debt forgiveness um i get a lot of people that have tried the route of and you can't blame them people want to do everything before they file a bankruptcy one of the things they try to do is is maybe compromise their credit cards and and the way that works is if you owe american express ten thousand dollars and they agree to take fifty five hundred dollars to settle it because you're nine months overdue um they will then issue you after you pay the fifty five hundred dollars they will issue you a 1099 c miscellaneous income debt forgiveness for 4 500 so at the end of the year when you're doing your taxes you've got what we call phantom income of 4 500 and if you do that a lot you can end up with phantom income of 10 or 15 or 20 000 dollars and then have irs troubles and the one you really have to watch is on rental property if you do a short sale or you get foreclosed on rental p

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