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AGENDA
Sacramento Transportation Authority
Sacramento Abandoned Vehicle Service Authority (SALSA)
700 H Street, Suite 1450 Sacramento, California 95814
(Board of Directors may participate via teleconference)
THURSDAYMARCH
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What is cancelled a g e?
Cancelled A G E refers to a form used to report cancelled debts that may be taxable income to the IRS.
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Lenders and financial institutions that have forgiven or cancelled debts of $600 or more are required to file a cancelled A G E.
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Information that must be reported includes the debtor's name, taxpayer identification number, address, the amount of debt cancelled, and details about the loan or credit.
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