In the Golden State, things are looking less golden for Sacramento’s bean counters. The chief researcher for California’s tax agency told his supervising board that the state loses out on $10 billion every year at a time when the state is making ...

Sometimes we get lucky and that big balance we owe is written off by a forgiving creditor. Or, possibly, waived through a sophisticated legal process with the help of a tax attorney. Now you have canceled debt. Canceled Debt: Is It Taxable? But when ...