Getting Regarding Tax Debts In Bankruptcy: Difference between revisions

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Revision as of 05:35, 8 October 2026


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Congress finally acted on New Year's Day, passing the "fiscal cliff" regulation. This law extended the existing tax rate structure for single taxpayers with taxable income of compared to USD 400,000, and married taxpayers with taxable income of less than USD 450,000. For which higher incomes, the top tax rate was increased to 39.6% These limits are determined before the foreign earned income exclusion. Debt forgiveness, you see, is treated as taxable income.

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