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Revision as of 00:31, 10 September 2026

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Give yourself the time use of your money. Setup you can put off paying a tax if they are not you hold the use of your money for your purposes. I've had clients ask me try to to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) is able to do such a little something. Just like your employer is usually recommended to send a W-2 to you every year, a lender is instructed to send 1099 forms to all borrowers who have debt understood.

That said, just because lenders must be present to send 1099s doesn't suggest that you personally automatically will get hit by using a huge tax bill.

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