Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-01-2018, 05:12 PM
Junior Member
 
Join Date: Jan 2018
Posts: 1
Question Responding to Bank who sent me erroneous 1099 C in 2015 tax Yr

A bank sent me an erroneous 1099 C for debt forgiven on property loan negotiated and settled in 2015. I filed taxes paid everything in full but now realize there is a mistake, contacted the bank multiple times and they won?t address it. I want to send a 1099 for amount of the error to correct the problem, what is the best way for me to file a 1099 with the bank and will then need to Amend my 2015 Fed & State return.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 01-02-2018, 03:57 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Needles to say, your bank is required to notify you 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. your bank should have sent you the right/correct form the first time, and when you pointed out the error, it should have fixed it immediately , not shrugged it off by saying, There?s nothing we can do about it.Some tax lawyers advise that the smartest move is to go to the source, even through the bureaucracy of the company. Document your reason for disagreement with the form.however, getting through bank bureaucracy doesn?t always work. after the bank representative refused to help, you need to hire an attorney to help you. What the IRS?d tell you to do is to call the bank to get it corrected but if you?ve ever talked to the bank, you know how far that?s going to go or
I guess since the bank is not cooperative, you may try to contact the IRS for help.



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Fresh cut bank instrument for lease/sale, such as BG,SBLC, MTN, Bank Bonds bgjon Investment Strategy 0 12-15-2017 02:54 AM
Fresh cut bank instrument for lease/sale, such as BG,SBLC, MTN, Bank Bonds bgjon Capital Gains 0 12-15-2017 02:40 AM
1099-C issued in 2015 ghanudave Income 3 03-24-2017 09:03 PM
Erroneous 1099-MISC mwaugh Income 4 06-30-2011 12:45 PM
erroneous 1099 hollyhillfarm Income 0 03-07-2011 11:24 AM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.