Loans are not “forgiven.” They are transformed into a payment from the lender to the borrower. That payment is either income or a gift. The IRS wants to know.
Any IRS agents here who can verify?
“ Loans are not “forgiven.” They are transformed into a payment from the lender to the borrower. That payment is either income or a gift. The IRS wants to know.
Any IRS agents here who can verify?”
************************************************************
LOL - The IRS will never go after Ukraine demanding it pay income tax on “forgiven” loans. Categorizing the GIVEAWAY of BILLIONS TO UKRAINE as a “loan” is simply meant to give DemocRATS and Globalist Republicans a way to lie and say “it;s not a giveaway.