IRS Regulations Concerning Cancellation of Debts / 1099-C
August 14, 2009 No comments yet
Many consumers receive a 1099-C from a creditor when they settle a debt or they have received a 1099-C from a debt collector without paying off the debt. What is a 1099-C? It is a form filed by the creditor telling the IRS that the debtor has canceled over $600.00 in debt obligation. The IRS [...]