Do I Still Owe a Debt if I Receive a 1099-C?
When a debt is settled or forgiven by a creditor, it is common for the creditor to issue a 1099-C for the amount of the “forgiven” debt (e.g., the amount saved in a settlement with a creditor). When a consumer receives a 1099-C, they may have to pay taxes on that amount as if it…