News — Lawyers Tax Tips

Is SBA debt forgiveness taxable?

Lawyers Tax Tips

This article is for general information and should not be construed as tax advice.  Readers are strongly encouraged to consult their tax adviser regarding their individual tax situation. Is SBA debt forgiveness taxable? There is no doubt about it: the negotiation of a settlement of SBA loan can be challenging. These days, lenders are so overwhelmed due loans that it may take an act of Congress to get them to even return your phone call. Then, when they do return your call, you are asked to complete a series of costly and confusing forms. Once you return this information, it is...

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