If you use independent contractors for your business, you must complete an IRS 1099 form for each one that states the amount of money you paid for services rendered during the tax year. QuickBooks can ...

Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...

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 ...

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 ...

It's perhaps the biggest tax mess of 2012: The 1099-C. February 28, 2012 — -- It's perhaps the biggest tax mess of 2012: An estimated 6.3 million 1099-C forms reporting cancellation of debt ...

Form 1099-C often comes as a concerning surprise at tax time. Here's what you need to know about reporting forgiven debt as income. Most people are in for a surprise when they receive a 1099-C, never ...