“I told him what if I file my return at the end of February and then the next day a 1099 or two shows up. He said then I would have to file an amended return and I might get letter and a bill from the IRS asking why I didn't report it because the IRS will also get a copy of the 1099's.”======>You should go ahead and file the amended return and add the 1099c. The irs wil charge penalties and interest on what you owe. This can add up quickly. You can make arrangements with them.I f you do not receive a 1099-C in one year, then there is a possiblity that the company issuing the 1099-C could report it in the next year. all taxpayers request a copy of their transcript so that they report everything. Irrelatively,In a case where you receive the 1099-C but the company does not send it to the IRS, you are still legally bound to report the debt discharge.I guess this is legal issue and need to get professional help from an tax attorney . |