What Do I Do with This 1099 Form from the IRS? Cancellation of Debt Income: A Ticking Time Bomb?
Cancellation of debt income (CODI) will be one of the largest post-COVID-19 issues for consumers, businesses and business owners. This session explains what happens when cancellation of a debt generates taxable income, and the resulting effects on the taxpayer and equityholders. Attendees leave with a better understanding of whether they should counsel their clients to file bankruptcy.