Did not receive 1099-C forms for 2010

Well elephants and the IRS don't forget.

I settled multiple accounts in 2010 and not one of them forgot to send the 1099-C.

In my opinion, you are walking barefoot over the hot coals.
Sooner or later you will get burned.

Just a side note....check your credit report and see if the ccc's reported the debt.

Regards,
King "Kash" Jabba Labba.

Were the payments for the settled accounts finalized in 2010? If you paid an installment, say in January 2011, you will get the 1099 for 2011. That happned with 2 of my accounts. Paid them off in February of this year, even though I received settlement letters in October/November.

I would just claim it as income. I'm assuming you know the amounts that were written off?

They have 3 years to send you the 1099c.

You should certainly call the companies and inquire about the amount they have on record as being forgiven and what date they posted the payment/final payment.

The creditor should treat the portion not paid as forgiven in the calendar year they receive final timely payment. The IRS will.

If the final payment posted in 2010, use the forgiven amounts in your solvency and tax calculations for 2010. Timing is especially important given many peoples measure of solvency for tax treatment of forgiven debt is more favorable at the time of settlement as opposed to the following year when you have had time to bounce back.

Thank you for all of your comments. I did receive all of the loan forgiveness during 2010, and did receive a letter from each stating final payment was accepted. I think I will call each bank to see when (and where) the 1099-C forms were mailed.

I had similar question and issue. Negotiated settlement on 12/31/10 and they said they were processing it that day. Hit my bank on 1/5 or 1/6 and just received a letter 3/5 thanking me for final payment toward settlement saying I'd receive a 1099 c in year in which the settlement completed.
Did not receive a 1099 C yet so am I off the hook or should I exclude it on Form 982
due to being insolvent on 2010 return?
Not sure if I'd report it even if I was solvent without having received a 1099c. My accountant indicated that it is possible they will not send one or transmit one to the IRS. They are subject to penalty if the 1099 C is not mailed to you by 1/31
or transmitted to the IRS by 3/31.
And if you want to see what the IRS is showing you or your accountant (with power of attorney) can request a transcipt from IRS. This will show all 1099's, W2's etc under your social security number for 2010 or other year requested.
Good Luck.. I have ways to go yet but this sight is helping.

I know you can request your tax transcript from IRS with a form 4506T but I don't know if you can do it before you filed your tax return for the year you request the transcript.

Does anyone know?