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Latest revision as of 05:16, 9 October 2026
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I've had clients ask me attempt and to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) is able to do such anything. Just like your employer is usually recommended to send a W-2 to you every year, a lender is had to send 1099 forms to every one of borrowers who have debt understood. That said, just because lenders will be required to send 1099s does not mean that you personally automatically will get hit with a huge government tax bill.
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