1099-C: Tax Consequences of Forgiven or Settled Debts
The IRS requires creditors to issue a 1099-C form to individuals who have had their debts forgiven or settled for less than the amount owed. It applies to debts in excess of $600. www.irs.gov I don’t owe the money but now the IRS is sending me a huge tax bill!! What’s going on and what can […]
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1099-C Taxes Video