This instrument was adopted by the United States in 1790, but was subsequently discarded by the Internal Revenue Service for another type.
The internal revenue service of the United States of America will function as our trusted intermediary.
Although getting a large chunk of your debt erased can be a great relief, the Internal Revenue Service also sees it as income.
The Internal Revenue Service considers any amount of debt reduction over $600 as taxable income.
Because it cancels a debt, the Internal Revenue Service (IRS) may view beneficiaries of the SafetyNet program as receiving income.