One of the few financial benefits which our staff at US Global Tax, have seen an increase in during the pandemic, is debt cancellation. Whilst this has mainly been for businesses in the form of rent relief, it does occur commonly on an individual level also.
But, what are the tax implications from a US perspective?
Learn more in our brief video below:
© 2020, US Global Tax, All Rights Reserved
Disclaimer: Information on this website is of a general nature and is not intended for use without professional advice.