If you have had an unsecured debt settled for more than $600 and less than the full balance, you may get a 1099-C around tax time. Unfortunately, many tax preparers and/or accountants do not understand how to take care of this so you don’t have to pay much or nothing extra in taxes! The IRS… Read more »
Tag: 1099-C
Received a 1099-C…Now What?
Around tax time, many people receive a 1099-C form and usually do not know what to do about it. Here is some very important information on not only why you received it, but what to do about it: Why you received the 1099-C. Why you cannot ignore. If you will have have to pay more tax… Read more »