You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

You can approach the issuer and ask the issuer to reissue it correctly. If the issuer of the Form 1099 has already sent it to the IRS, ask for a “corrected” Form 1099.

Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...

You probably have heard that running cocktail hour joke about the two sure things in life — death and taxes. Well that chuckle starter came up again during the BHPH Report’s conversation with ...

If you receive a form 1099-C in the mail from a lender, your first thought is probably: "What is this and why did I get it?" Most taxpayers don't realize that canceled or forgiven debts are considered ...

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. It is true that over time, these forms have continued to ...