taxes on debt
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Posted by Brandon
(204.120.48.3) on April 14, 2002 at 16:53:22:
WHY CHAT I very much appreciate your time. I hope I'm not being rude. In your posted answer you mentioned there auditors and stock-holders wouldn't want to take a business loss. How is it a loss? They can still take you to court within the SOL to legally collect. I'm just confused. So many people post here and make statments with-out backing them up. I thought I backed it up by giving you documented info but your saying it's wrong. Do they just ignore the federal regulation? I'm very confused. Please provide your expert assistance in explaining what I have posted and how it doesn't apply for them to send a 1099-c into the IRS 180 days after deliquency/charge-off. What if I never pay it and just wait until it comes off my CR. Wouldn't they have lost out on reporting it for tax reasons. It seems there auditors and share-holders would want something out of it.. please explain, thank you
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