Re: Is there any way I don't have to pay taxes for settlement account?

Posted by Daniel on February 04, 2002 at 22:32:50:

In Reply to: Re: Is there any way I don't have to pay taxes for settlement account? posted by Linda on February 04, 2002 at 11:07:14:

Is there any way to get an agreement from a c.c. company stating that they won't report the difference in the settlement and what the balance due was, to the IRS in the form of a 1099, or is this an automatic process that is required by the IRS. I've read other posts of yours where you've said to get several things in writing before paying an agreed upon settlement. Can you review these once again and who should this agreement come from? The collection department of the individual Visa/MasterCard or someone in an official capacity there. Also, what are the realistic chances of getting an agreed upon settlement for 50% or even less. Thank you for your assistance.

Follow Ups:

Post a Followup