While debt settlement can reduce the amount of money you owe creditors, you could be liable for taxes on the canceled debt—but it depends on the type of debt.

IRS Tax Issues During Uncertain Financial Times. Struggling with IRS tax problems? Learn how to manage tax debt, avoi ...

Though you should always start by contacting the IRS directly, you may want to bring in a tax relief firm like Community Tax ...

Angelica Leicht is the senior editor for the Managing Your Money section for CBSNews.com, where she writes and edits articles on a range of personal finance topics. Angelica previously held editing ...

For those who cannot pay the full amount they owe in taxes, the Internal Revenue Service allows qualifying taxpayers to settle their tax debt for less than the full amount. This is called an “offer in ...

For most small business owners, success is typically followed by a substantial tax bill. Here are five things every owner ...

The IRS adjusts its tax provisions for inflation every year, which can help taxpayers avoid so-called "bracket creep." ...