Tag: Debt Relief

cancellation of debt

Is Cancellation of Debt Income?

Tax relief is a major part of our professional practice.  It follows, then, that we should expend some ink going over what constitutes taxable income.  One of the more confusing forms of taxable income is the phantom income known as cancellation of debt or, simply, COD income.   It’s the source of many bewildered telephone calls to this law […]

Fresh Start Initiative

What is the IRS Fresh Start Initiative? 

Here at Mackay, Caswell & Callahan, one of the central pillars of our practice is resolving tax debts with the IRS. We’ve helped hundreds of people resolve their back taxes with the IRS.  That allows them to continue on and move forward with their lives.  Debt may be a part of life, particularly for today’s younger Americans.  […]

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