Pursuant to Internal Revenue Service guidance, be advised that any federal tax advice contained in this program is not intended to be used, and it cannot be used, by any person or entity for the purpose of avoiding any tax penalties that may be imposed by the Internal Revenue Service or any other US federal taxing authority or agency, or promoting, marketing, or recommending to another party any transaction or matter addressed in the show. The opinions expressed by the host and the guests are their own and may not be used as a throatative advice. Any use of this material without the written consent of the host is strictly prohibited. Welcome back! I am your host, attorney Steven Leahy, and this is the IRS Radio Hour on AM 560 BD answer. I try to go up, down, left, right, I can't figure it, we'll find it, we'll figure it out one day. But ladies and gentlemen, as you all know, who followed the show [regular listener set], this is the doctor fader questionnaire, our whatever. I'd never really watch the Charlotte, so anyway joking all aside, Dr. Richard Fader had to take extended leave of absence, so now we're gonna fill in with Jess. Ladies and gentlemen, Mr. Know-it-all, that all wonderful all-knowing man, attorney man, attorney, and I am Boies both Steven Leahy, my uncle by the way, it's true. So what's the question today, Jimmy? Oh, we have a question from Rudolph Valentino from Toledo, Ohio, and his question is, "I've received a tax form in the mail, it's a 1099-C. Not a nut, but see Nordy see. Mr. Know-it-all, what is a 1099-C?" Well, that's a very good question, all fair Valentino, you know that's a cut, that's a very famous name from Toledo way. Anyway,...
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What does a 1099 C look like Form: What You Should Know
How Not To Report a Cancel, Cancelled Debt or Cancellation of Debt — If you're a lender How to Get Your Cancellation of Debt Tax Refund If your debt is canceled before the due date of any tax returns, you will not be entitled to a refund. You may be able to get a Refund Notices From Bankruptcy Trust Cases If a debt is forgiven, canceled and reported to the IRS because the IRS is the debtor, you will not be eligible for a refund. Other IRS Cancellation Forms If you still have questions or concerns about tax deductions due to canceled debt, you can review the list of IRS-approved cancellation forms. You can also speak with a tax professional.
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