Nina L. Kaufman, Esq. is an award-winning New York City attorney, edutainer and author. Under her Ask The Business Lawyer brand, she reaches thousands of entrepreneurs and small business owners with her legal services, professional speaking, information products, and LexAppeal weekly ezine. She also writes the Making It Legal blog.
Do I have to pay income taxes on debt settlement?
I am contemplating using a debt settlement company to take care of credit cards and a medical bill. I heard that I might have to pay income tax on the saved amount of the negotiated debt.