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Has anyone ever recieved a 1099-c tax form in regard to a payday loan. I got one in the mail from ais. I trying to get in touch with someone there, but i think it's from me settling my loan with web payday. What do i need to do? Can a payday which is illegal in my state report this to the irs?




how much is the 1099-c for?

Sub: #1 posted on Fri, 02/19/2010 - 11:00

paulmergel paulmergel
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240.00

Sub: #2 posted on Fri, 02/19/2010 - 11:16

islefan3949 islefan3949

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Quote:
Originally Posted by islefan3949
240.00


report this bottomfeeder to the irs.you see AIS is an unlicensed bottomfeeder in california.second you can only be issued a 1099-c for amounts over 600.00.i would inform the irs of this.go to irs.gov and file a complaint.to explain about the 600.00.the forgiven portion must exceed 600.00 to issue a 1099-c.this place had no legal right to issue you that.on top of gpong to the irs about this.i would file the regular complaints against AIS.FTC,and AG complaints.do not take this lying down.what this botoomfeeding bunch did was illegal.

Sub: #3 posted on Fri, 02/19/2010 - 11:23

paulmergel paulmergel
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OK thank you very much for your help.

Sub: #4 posted on Fri, 02/19/2010 - 11:27

islefan3949 islefan3949

(Posts: 273 | Credits: )

I spoke with someone over at the irs and she said that there is no 600 minimum for the form. What sucks is that the 240 that they sent to me is all for fees and interest and not even for the balance.

Sub: #5 posted on Fri, 02/19/2010 - 13:00

islefan3949 islefan3949

(Posts: 273 | Credits: )

okay.i saw the requirements,and you are not required to file that as income if the amount is under 600.00.my bad.the bottomfeeder is till required to file 1099-c,but if the amount is under 600.00 then you are free and clear....i would still be prepared to file complaints as ASI still might try to collect.

Sub: #6 posted on Fri, 02/19/2010 - 13:15

paulmergel paulmergel
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Ok thank you again for your help.

Sub: #7 posted on Fri, 02/19/2010 - 14:56

islefan3949 islefan3949

(Posts: 273 | Credits: )

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Sub: #8 posted on Thu, 11/29/2018 - 14:34

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