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Revision as of 19:08, 3 September 2026
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For citizens that reside abroad, the IRS provides a tax free waiver for the first $92,900 earned next year. I've had clients ask me try to to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) has the strength to do such a little something. Just like your employer is to send a W-2 to you every year, a lender is instructed to send 1099 forms to all borrowers who have debt forgiven.
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