Understanding If IRS Debt Is Reported to Credit Bureau Agencies Is IRS debt reported to credit bureau agencies? Many taxpayers worry that owing back taxes will immediately damage their credit score. While this fear is understandable, the truth is more nuanced. The IRS does not report tax debt directly to credit bureaus, but certain IRS […]

Explaining Why Debt Is Not Taxed and When It Might Be Why is debt not taxed? This question often comes up when someone takes out a loan, settles a credit card balance, or receives student loan forgiveness. At first glance, borrowing money might feel like income, but the IRS treats debt differently. Understanding how and […]