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Otsego County Room Occupancy Tax Return  Form

Otsego County Room Occupancy Tax Return Form

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what happens after debt forgiveness so you have finally achieved debt forgiveness congratulations are definitely in order you have successfully convinced your creditors to let you pay only a portion of your debts and forgive the rest of the balance at this point you have gone past this debt and you can move forward from here but before you make plans for the future you need to know exactly what happens after debt forgiveness there are important issues that come with this deal that you have successfully negotiated with your creditor first of all if you were awarded the debt forgiveness because of your debt settlement efforts you need to know that you may owe taxes for the forgiven amount the law states that any debt amount for given over $600 is taxable it is considered income earned and taxable you need to be ready for that payment when tax season comes in you may be able to avoid paying taxes on the debt forgiven if you were insolvent at the time the debt was forgiven consult a tax pr

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