Re: charge off- impact on taxes?
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Posted by computerguy
(22.214.171.124) on June 04, 2004 at 07:50:29:
In Reply to: charge off- impact on taxes? posted by anon on June 04, 2004 at 02:55:40:
Is the company a Debt Negotiation Company? I contracted with one in Jan 2000. They negotiated 2 debts for me and the IRS was sent a 1099c from both companies that settled. I found that the Credit Card Companies sent incorrect 1099s to the IRS and the Credit Card Companies neglected to subtract my final negotiation payment off the final balance of the debt. Thus, they were trying to get away with a bigger amount of forgiven debt.
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