What is 1099c?

What is 1099c?

2 Answers

If you settle your debts with a creditor, then you are likely to get a 1099C form. The IRS will regard the fogiven amount as taxable income. Therefore, a 1099C form will be sent to you. You can get detailed info from the website of IRS.

1099C is a form requesting "cancellation of debt", which needs to be filed with the IRS. The debt is usually written off once it reaches the 'charge-off' state. Please go through the following page to gain more knowledge on it - "http://www.debtconsolidationcare.com/collection-agencies/about15326.html"

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