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debranewell2008

Joined: 10 Oct 2009
debranewell2008's page
Posts: 594

99 Magic Points

Subject: taxes

Thu Nov 19, 2009 1:43 pm

If the IRS says I owe back taxes on a debt that is not listed on my credit report and the original creditor doesn't validate the debt. What can I do?

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Thu Nov 19, 2009 4:28 pm

Hi Debra,
Usually when it comes to the IRS you will have to pay the debt,even if the original creditor does not validate. If you do not they can attach any form of income you have coming to you. Apparently the original creditor has written off this debt. Do you recognize the debt? If so than I would safely assume it is yours. Even if the creditor sells it and then you settle the debt for less you would still have to pay taxes on the amount left over. I do not know exactly how this works, I just know it is legal. When you do not pay a debt it is considered income. (they always get their taxes in one way or another). You may want to wait and see what others say but I do know you will probaly be held responsible.

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