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Re:Credit Card Debt Collection by joezydeco on Wednesday September 13, 2023 @08:55AM (#37496124)
Doesn't the IRS consider settled debt as income? Did he have to report that?
Re:Credit Card Debt Collection by jjoonathan on Wednesday September 13, 2023 @09:50AM (#37496728)
Yes, but "defaulting on $100k as an income strategy" is a tier above the usual tax avoidance schemes in terms of risk, so I suspect he availed himself of those too and wound up paying very little tax on the $60k.