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joezydeco
on Sept 13, 2023
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Credit card debt collection
Doesn't the IRS consider settled debt as income? Did he have to report that?
jjoonathan
on Sept 13, 2023
[–]
Yes, but "defaulting on $100k as an income strategy" is a tier above the usual tax avoidance schemes in terms of risk, so I suspect he availed himself of those too and wound up paying very little tax on the $60k.
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