First of all, FANTASTIC WEBSITE!
What happens when you are issued a 1099 from a collection agency? I’m worried come tax time we will owe a lot of money to the IRS. Help!
The only reason you would be issued a 1099 would be if your debt was written off as uncollectible or you settled a debt.
I had the following questions that I’d like for you to answer before I can answer your question. Please post your answers in the comments section of your question. I’m looking forward to helping you for free.
- What is your situation?
- How much debt is being forgiven?
As soon as you can post the answers to my questions above I’ll be able to help.
If any reader wants to offer advice in the comments section please feel free to participate.