Re: What are the going settlement amounts?

Posted by Taziblue (68.130.241.3) on June 27, 2003 at 12:27:08:

In Reply to: Re: What are the going settlement amounts? posted by Mikey on June 27, 2003 at 03:23:04:

1099C forms are supposed to be issued by Jan 31 of the year following the settlement. IE. forms for 2003 would be issued by Jan 31 2004

Also, if you get a 1099C you can legally avoid paying taxes on the amount if you are insolvent at the time of the right off (owe more than you own) or meet other criteria.

You file a form with the IRS with your taxes.
If you need it, I will locate the form number

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