Do you know the origin of the word “jubilee?” A Jubilee, in the most ancient sense of the word, was a special year in which slaves would be freed, debts forgiven, and great feasts eaten.
In our practice, we’ve been getting a lot of questions about potential upcoming student loan forgiveness, debts, and potential tax consequences. Under normal circumstances, creditors that discharge debt will issue a corresponding Form 1099-C Cancellation of Debt for inclusion in that year’s income. Although this is a nuanced situation, we asked our friends at the AAEPA what they thought about potential developments. Please see their article here for a more detailed view.
Estate Planning Attorney at Slaton Schauer Law Firm, PLLC
Before practicing exclusively in Estate Planning Law, Mr. Slaton-Freeman worked in research contracts for Texas A&M University, for a major international defense contractor, and the Texas Office of the Attorney General. His background includes trial litigation, business law, analysis of complex contracts, and estate planning.
Latest posts by Andrew Slaton-Freeman (see all)
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