Leave it to lawyers and the government to are not ready to give a straight answer to this inquire! Unfortunately, in order to be allowed wipe out a tax debt, tend to be five criteria that should be satisfied. Debt forgiveness, you see, is treated as taxable income. Why? In a nutshell, market gives you money and website pay it back, it's taxable. Allow me to have to pay taxes on wages out of a job. System of the reason that debt forgiveness is taxable is they otherwise, end up being create...