Yes, I'm familiar with the tricks that debt collectors sometimes play and I do know from the IRS that the original debtor would have to send the 1099-c. I guess there's no time limitation for them sending the 1099-c, but if they sold the debt to a collector can they still send a 1099-c years later? The IRS wouldn't admit to any dispute of validity for the debt, but according to their site they can raise the issue up to 3 years later. The debtor is supposed to send a 1099-c to the IRS and the creditor but doesn't always do the latter, so the poor taxpayer gets a big surprise a year or two or three after filing. Since the original debtor never came up with validation of any debt I don't see how the IRS could think it valid without same. Perhaps I'm just worried whenever the IRS gets involved.
Sorry if I wasn't clear about one thing. The IRS said if I hadn't rec'd notice by now from them that the debtor had sent a 1099-c then it hadn't been sent. My question and worry is this: what do I do if I receive a 1099-c before next February? Do I have any recourse? Thanks.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).