Re: IRS and 401 k
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Posted by LadynRed
(18.104.22.168) on November 06, 2003 at 18:14:21:
In Reply to: Re: IRS and 401 k posted by Cat on November 06, 2003 at 14:42:24:
Are you saying the bank issued him a 1099-C ?
That's the ONLY way the IRS would get involved -- if the bank issued a 1099-C and then he did not add it to his income tax for that year as income.
FYI - IF he can prove he was insolvent when that 1099 was issued, then it would NOT have to be reported as income at all.
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