Taxes can get confusing — just looking at the names of some of the forms you have to fill out can be enough to get your head spinning. Like the 1099-C, for example. What is that, and why is it in your ...

You finally did it. You filed your taxes and now need only await your return, to be spent on a new TV or stocked away in an IRA or whatever you want — it’s your money again, and not Uncle Sam’s.

Most people are in for a surprise when they receive a 1099-C, never realizing that canceled debt is often treated just like any other dollar of ordinary income. Creditors record canceled debts on a ...

Banks are required to notify taxpayers and the IRS about debt discharges by filing Form 1099-C. It is less than crystal clear as to exactly when the banks are supposed to file 1099-C. A recent ...

Personal Finance. Gas Prices Today, November 28, 2022: Check the Cheapest Gas Stations Today Personal Finance. Last days to apply for a refbate check of 300 If someone you owe cancels or forgives your ...

If you received a 1099-C tax form in the mail, you might be wondering where it came from and why it exists. You typically get this form when you settle a debt. It means you owe taxes on the amount of ...

Forbes contributors publish independent expert analyses and insights. Peter J Reilly is a Forbes contributor who covers taxes. Mar 06, 2015, 09:03am EST Apr 10, 2015, 01:22pm EDT This article is more ...

If you thought your money woes ended last year when you settled that credit card debt, think again. For many consumers with debt problems, after the debt collector leaves their lives, the taxman ...

If it’s been a rough couple of years for you, you’re not alone. Maybe your income was cut, you lost your job, or you had large expenses like medical bills. You may have fallen behind on bills, fielded ...

A tax adviser faces a challenge when advising a client about the taxability of a canceled debt. In addition to breaking the news that the transaction is possibly a taxable event under Sec. 61(a)(12), ...

You finally did it. You filed your taxes and now need only await your return, to be spent on a new TV or stocked away in an IRA or whatever you want — it's your money again, and not Uncle Sam's.