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Bankruptcy or jail?
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johnk
Posted 2/27/2016 08:05 (#5140407 - in reply to #5138625)
Subject: RE: Bankruptcy or jail?


ncia
Forgiveness of debt should equal income. At worst , bankruptcy or loan write downs should incur a future income tax liability. Could even claim the liability against an estate or life insurance. How's that for a harsh penalty?
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