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Revision as of 05:34, 11 September 2026
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I've had clients ask me to make use of to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) to enhance to do such a little something. Just like your employer ought to be needed to send a W-2 to you every year, a lender is were required to send 1099 forms to every one of borrowers possess debt pardoned. That said, just because lenders need to send 1099s does not mean that you personally automatically will get hit along with a huge goverment tax bill.
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