Here's what you should know about the form 1099-C, Cancellation of Debt: A form 1099-C, Cancellation of Debt, is issued by a creditor when a debt is discharged for less than the full amount you owe ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...

I read something about foreclosures and taxes in the paper this week (can't find it) What kind of forms do we need to file if we were foreclosed on in 2008? Answer: Julie - The amount of debt forgiven ...

If your mortgage debt is partly or entirely forgiven during tax years 2007 – 2012, you may be able to claim special tax relief and exclude the debt forgiveness income, said the IRS. Normally, debt ...

Dear Tax Talk, I got a Form 1099-C in the mail this week from a bank for a debt cancellation. The loan originated in 1989, and it was charged off in 1990. The representative I talked to said they gave ...

At this time of year, creditors sometimes send out what is called a Form 1099-C. They email it to the Internal Revenue Service (IRS) and copy the person who owes them debt. The form tells the IRS that ...