What Is a 1099-C Form and How Does It Affect Your Credit?
Credit Corp
APRIL 26, 2024
The 1099 c form helps the IRS account for canceled debts from the previous tax year. The 1099-C cancellation of debt form deals with canceled or forgiven debt from the previous tax year. This form exists to ensure accuracy when reporting taxes and to help filers determine if they owe debt forgiveness taxes.
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