Debt Forgiveness when a credit is used to pay a mortgage
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by learned my lesson and still paying
(69.89.164.185) on June 16, 2004 at 21:18:40:
I had my taxes done in 2001 and had negociated a settlement with 2 credit card companies. I received 1099's and my tax person said that I would not need to claim it because no interest was claimed. Of course 3 year later the IRS is knocking on my door. I owe them anohter 2K for that year from the amounts of the 1099's...and of course th irs has to get it's interest Does any one know of any ruling as to why the 1099 foregivness of debt would not be included as Income if it relates to property or payment for property? breezy said to post here and see if anyone knew of anything. I have to contact the irs no later than august to make payment arrangements any help is appreciated. thanks
Follow Ups:
Post a Followup
|
