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.