can you do anything when you settle credit cards and they send you 1099c that you have to report on your taxes
362902
Yes.  You can scream, throw things, and stomp about the house.  Then you have to use the 1099C on your tax return and see what the actual result is.  If you owe money that you don't have, work out a payment plan with the IRS.  Difficult, but it can be done.
288275
The have to send them out by Jan 31st. They should have them to you by then corporate taxes are to be filed by March 15 so if they do their taxes on time you know they can have your 1099 to you before April
736510
Can you give any additional details?\nYour preparer could have just made a mistake and they wouldn't be responsible for any penalties.  It is still your tax return and you would have signed it.\nSome companies offer 'insurance' so if the IRS disagrees with how your return was filed that the 'insurance' will pay any taxes that you owe.
384996
you can call the IRS, they will tell you
587148
Flag your accounts with the 3 credit bureaus immediately!  Put on a fraud alert and ask that no new accounts be opened unless they call you at your home number and verify it's you who wants to open the accounts.\n\nDepending on how they are using your number, you might also want to be aware that they might be using it to hide their income.  If income is getting reported under your social security number and it's something like 1099 income, that could be really, really bad because the IRS will come after you for that tax, but they don't come after you right away, sometimes it takes up to 3 years for them to send you some huge bill you have no idea about.
904120
Before you settle with any collection agency or any one that you owe money to go to the FTC website, and get the facts first, that way you know how to talk to these people.  If you settle, ask that they report it as paid in full on your credit report.  If they agree, get that in writing before sending any payments.  If they won't put it in writing, make monthly payments and pay the full amount.  Paid in full will look better on your credit report and help increase your credit score, while settled can lower your credit score.
729602
call the IRS, but i think it is 1099
209292
No.  When you 1099 they are responsible for paying their taxes out of the gross that you pay them.  It's the joy of being able to 1099 them.  They have to deal with the trouble of putting taxes aside to pay.
739430
There is nothing they are going to do that you can't do yourself.  Look up your specific issues on-line, learn, and apply the lessons to your issues.  When you get involved with these groups, there are hidden fees and costs, such as interest charged for longer length loans.  Read this:\n\nHere's another example, this one involving debt settlement. Let's say you have racked up $20,000 in unsecured credit card debts. You owe $10,000 to one credit card company, $7,000 to another one, and $3,000 to a third one. You agree to contract for a five year debt settlement plan where you pay $250 a month to the settlement company.\n\nSounds good, right?  After all, $250 a month for five years is only $15,000, so you're saving $5,000 and you'll be debt-free in just five years, right?\n\nLet's examine this arrangement a bit closer. The admin fee will cost you $750 up front. Your first three monthly payments go towards that admin fee and nothing gets put into your trust account until your fourth monthly payment has been paid. The settlement company takes the first $50 of your $250 payment every month as the service fee. That means that only $200 a month is actually being added to your trust account.\n\nMost debt settlement companies will claim to be able to settle your debt for about 1/2 of what you actually owe, so let's use the middle credit card debt as an example:\n\nIf you owe $7,000 on the account and the creditor agrees to accept $3,500 as payment in full, it will take you 8 months at $200 per month to have accrued enough cash in your trust account to pay off just that one credit card bill. But remember, your first three  payments to the debt settlement company only paid the $750 admin fee. That means your first credit card isn't really settled until 11 months after you started sending them money! So what is the problem? It's really very simple - Your creditor won't agree to accept half of your actual debt amount in settlement unless, or until, that amount can be paid in full. Otherwise, they'll expect you to make your normal monthly payments.
452355
Any income reported to you on a 1099-misc has to be reported.
278060
YES. It is called an offer of compromise. They will set up payments with you. If you do that you need to make sure you pay the set amount on time!!! Call the IRS at 1800 829 1040
240381
If you made over 600 they employer has to give you a 1099. If he has your social I'm sure that he is going to report that you were pd. The IRS will also get a copy of this 1099. So the chances of them looking into it are good. If you make over 400 on a 1099 you have to file. You will file on a 1040 form. Your 1099 income will go on a schedule C. You will also take the expenses form that same form. Just save yourself some money and do it now. If you don't you will pay interest and penalties.
432173
No, they cannot do that, you can report them for threating you. The only property they can take is what you paid for on the credit card, which most companies will not do, since what you bought is usually not worth the money it requires them to get it. Just hang up on them. It will eventually go to charge off.
570687
Certainly the human resources officer where you work can provide some information for you. The tax situation could be the most serious so make and follow a plan to settled that immediately.  Get a notebook. Write your name and the date on the first page. Skip the next two or three pages. Then list each activity, bill or account that needs to be settled on a page by itself. Include the account information like the person to contact, the phone number, address, interest rate and the amount that is owed, and when it is due for each one. Set a time to find the resources (people or organizations) that are available to assist with resolving each one. When you complete paying an account, put a big x on it's page. Turn to the pages that you skipped and write the name and the date that it was completely settled on one line. Keep working on this consistently until you have all the pages with X's on them and the list of completed accounts and dates listed on the pages that were skipped for this purpose. Good luck...
321986
If I understand the question, the answer is no.\n\nAre you asking if: you owe money. you offer to settle for less than is owed. if they say no, they have to live with only what you have already paid?\n\nIf so, of course not.\n\nAs long as really really owe the money (or if it has been legally determined that you do) the collection company can settle, or it can do what it can to collect the whole amount from you.  Collection agencies often agree to accept less than they have a right to (say, to forgive interest, or cut the amount a little) because it is cheaper than going through the effort of collecting.  But they don't have to.
251653
What is the question?\n\nYou should speak to an accountant so that you won't get penalized by the IRS.
258406
You report all the 1099's. You only need 1 schedule C if you only had 1 business. The 1099's get added up and go in income. If you have tax software you just enter in the 1099's and the program will transfer the income. If you have other income that you did not get a 1099 for you will have to add that amount. Be sure to take every thing that you use for that business on the schedule C. Take some time to think so you don't miss anything. I'll keep watching if you have more ?'s