C-Corp had old payroll tax debt forgiven (CSED - collection statute expiration date). Is that taxable? Or not? Is it even forgiven or is it still owed but the IRS can't collect?
Cash or accrual basis taxpayer? What type of payroll taxes? Trust fund taxes would likely have been deducted in the prior year as salaries & wages. Employer taxes, maybe or maybe not. If it was written off in a prior year then it should probably be written back on (pending insolvency calculation).
I wonder how many solvent corporations the IRS is allowing off the hook without enforced collection before the statute expires. Also, are you sure it has expired? Who told you?
