any "forgiven" debt is taxable.
There is a corporate trend to forgive blue collar theft. The courts usually give a person probation, then they pay the company back 7 bucks a month for eternity.............BUT if you let it go, do not file charges, can prove they stole (usually get a confession for no charges) THEN you turn them over to the IRS..........yep stolen money is taxable.

Yep, I learned that the hard way. Goes for credit card debt, student loans, etc.

If you think this year is bad, wait until next year (2014). That's when the big Obamacare taxes kick in. You'll be taking home a lot less money, for some, as much as 20%. My biggest fear is the collapse of the economy. I used to laugh when I would hear people talking about a day when insurrection would take over this country. I'm not laughing any more. I'm collecting ammo.

Standard deduction has been treating us pretty well for a few years now. Kids make it good for taxes. Have kids in bunches and you should be okay!

It all depends on your income, once you hit a certain level there is no child tax credit or dependent care deduction. Many of my clients have almost no deductions and tremendous taxes. Some people pay seven figures in taxes (not me) to have the same rights and privlages as another guy that makes $6,000 per year, pays no income tax and receives a check from the governement for the earned income credit. It is far from a fair system.

Only allow people that have paid at least $1 in taxes (or file jointly with someone who does) to vote and the problem would quickly be fixed.

X2 ... Should be driving several f250's lol AT least

If this were the case we would not be in this situation....

Agreed but it will never happen. I will be surprised if we ever have another conservative President.

x2

X3

we just need to all switch to democrats, and have no more republicans. In name only. Then all the low information voters wont know what to do.

Yep, we may have another Republican but I doubt we ever have a true conservative. Our current POTUS is basically the 'messiah' to many people, and I can not understant it

I am not bashing anyone here, because some people truly need assistance, but I just can not understand how someone that receives nothing but gov't assistance to live on gets a REFUND:help:

Thanks for the help, I looked at my past W2s (all this is via TaxAct) and realize what the difference was and it was a simple error on my part that wasn't picked up. I am in a much better mood now, even though I know its not for long:work: