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Anonymous
Not applicable

1099-C

I recently created an account on the irs.gov website to ascertain whether or a payment was received. While on the account. I noticed access to prior-year tax transcripts. While sifting through each year (2015-2018), I came across a section in 2015 labeled " Wage and Income Transcripts". I found where a financial institution issued a 1099-C .  The account (initiated fraudulently in 2007) and subsequently reported to the police and the creditor from 2009 (when first discovered) all the way into 2013 when I thought this had been resolved.  Evidently, the creditor decided to issue a 1099-C (which I never received) and reported it to the IRS in 2016 for the 2015 tax year. 

 

I have not received a deficiency notice from the IRS for the 1099-C. I did contact the IRS and agent stated to make contact with the creditor and attempt to get it corrected.   I contacted the creditor and they stated that the department that was handling that case no longer exists and unable to make any corrections. Last week, they only offered to send me a copy of the 1099-C  to my correct mailing address which I have not received yet.  I have all copies of any and all correspondence with this creditor from the past including the original and police report supplements (2009-2013).

 

Not sure how to handle this considering 1) no help from reporting creditor, 2) was reported to the IRS in 2016 for the 2015 tax year, 3) I have not received any correspondence from the IRS (under-reporting, deficiency, etc).

 

Should I file an amended return for 2015 along with a Form 982 with an explanation of the above? I just don't want the time to pass and runout the SOLs that would give me recourse in this matter.  Any guidance from a CPA would be appreciated. 

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4 Replies

1099-C

I would do nothing at this point ... if the IRS wanted to question it they would have done so by now ... just keep your papers in case they send a letter in the future although it is highly unlikely ... they are working on 2017 letters right now. 

Pop1949
Returning Member

1099-C

 received a 1099c for 2017 after I had filed my taxes. I subsequently submitted an amended return in 2017.  Once again I received two more 1099c for tax year 2017 in 2018.  One thing led to another end i neglected to submit another amended tax return for 2017.  What do i do now. The first time I didn't owe any additional money but I may well owe a small amount if I submit another amended tax return.

1099-C

submitted my tax return last week and now received 1099C in mail, what should i do

Cass0317
Intuit Alumni

1099-C

@Shervon Player 

If you have already e-filed or mailed the return, then you will need to wait until the IRS has accepted or rejected that return before you can make any changes. You can amend your return to make changes.

  • If they reject it, then you can make the needed changes and re-submit the return.  How do I fix a rejected return?

  • If they accept it,  then you will need to wait until you have received your refund, if applicable, and then amend that return to make changes, if needed. Amended returns have to be printed and mailed in and take up to 16 weeks to be processed.   

If accepted, wait until you have received your refund or taxes due paid, then you can go here for instructions on amending your return. 

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