Many small business owners start with a sole proprietorship keep clear of the costs of forming a corporation or LLC. This may be a wise decision as statistics show that many small businesses lose money for the first several years. After 26 years if there is any balance left unpaid, then the debt is pardoned. However, this unpaid balance is regarded as taxable income according to the Internal Revenue Service. What's interesting might be loan is forgiven after different times depending exac...