You will receive a 1099-C Cancellation of Debt form if a lender forgives more than $600 of taxable debt. You must include the amount of canceled debt on your federal tax return as a part of your ...

It's tax season, and if you've received an unfamiliar income form this year, it might be a 1099 tax form. A 1099 form is used to document income received outside of a permanent salaried job. This ...

Each January, your mailbox and email are likely filled with tax forms. You’ll receive a W-2 reporting your wages if you work for an employer. But if you do any self-employed or freelance work, you may ...

Acting to clarify the practical impact of a COVID relief provision enacted earlier this year, the IRS has announced in Notice 2022-1 (Notice) that lenders are not required to, and should not, issue ...

You won't owe the IRS money on your forgiven balance, but a handful of states tax canceled debt as income. Dashia is the consumer insights editor for CNET. She specializes in data-driven analysis and ...

TaxBandits is a SOC 2 Certified, IRS-authorized e-file provider specializing in various tax forms, such as Form 1099, W-2, 941, 940, 1095-C, 1095-B, and W-9. Serving businesses, service providers, and ...

A classically trained French hornist by education, Nick Wolny is a managing editor at CNET Group, where he oversees the Perspectives franchise and written branded content across CNET Group's ...

If you have debt that is canceled by a lender, you may receive IRS Form 1099-C. Although you are no longer liable to repay the debt, you can’t simply forget about it. The IRS may consider the forgiven ...