Marital debt typically includes different types of liabilities that are incurred during the lifetime of a marriage. Here are eight to keep in mind: When a marriage ends, the division of debt can be as ...

When an unpaid debt is cancelled or extinguished, the borrower generally recognizes taxable income in the amount of the cancelled debt. However, the character of the income depends on the situation ...

The IRS issued final regulations (T.D. 10014) that amend existing regulations under Sec. 752 relating to a partner’s share of a recourse partnership liability and the rules for related persons, which ...

Marital debt refers to financial obligations incurred during a marriage, such as mortgages and credit cards. Because a marriage is a complex legal partnership, it’s not as easy as looking at the name ...