1099c
Date: Tue, 07/27/2010 - 16:19
1.When a debt is purchased numerous times maybe 10cents in the$1 does the 1099c need to be based on what the debt was purchased for IRS to apply it for income purposes
2.How can the IRS determine the actual value of a 1099c, which is 14yrs old and has been sold numerous times, for cents in the $
2.How can the IRS determine the actual value of a 1099c, which is 14yrs old and has been sold numerous times, for cents in the $
only the original creditor can issue a 1099c cuz only they have
only the original creditor can issue a 1099c cuz only they have a signed contract that you opened an account with them?
not correct
Quote:
Originally Posted by Anonymous only the original creditor can issue a 1099c cuz only they have a signed contract that you opened an account with them? |
Numerous 1099c are issued by debt collectors, who are not the original creditor,check the laws, governing debt collectors, who purchased the the debt