Category: Tax Law

Tax Consequences for Cancellation of Debt Income

Author: Lowell Steiger

Published On: February 28, 2010

What follows is a blog post written by my colleague,David N. Stonehill, Tax and Real Estate Attorney. I’m @HRMargo on twitter. As an HR and Social Media Consultant in his firm, I see sad stories like this every day. Employees are drowning in debt, particularly after the recession of 2009. Below is a case study, and a real story about one of Stonehill’s clients. He has since helped her out of this awful jam, but the fact remains clear. Our tax code has to change. It is my hope that those who read this post will become as outraged as we did. There is… Read More

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