Zombie Debt IRS Tax Bills: Myth vs Reality

Quick Answer: IRS tax bills on old “zombie debt” aren’t myths – they’re real tax obligations when creditors issue 1099-C forms for forgiven debt over $600. The reader owes $6,000 on an old CitiBank debt from 6-7 years ago and should consult a National Association of Enrolled Agents member for professional tax representation.Question:Dear Steve,I could …

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