There are things you never forget how to do, ride a bike is one of them. But even though it’s something you’ll never forget how to do, you still might need to be reminded on how to do it. I did try, a few years ago to hop on a bicycle and ride for 20 miles in 90+ temperatures, I hadn’t ridden for over 15 years. Needless to say, it didn’t turn out to well, I did complete the trip, but I was exhausted at the end.
Like riding a bike, filling out Form 1099-C is something you will never forget and as long as you ease back into it, it shouldn’t be too painful, here are some extremely important reminders for filing Form 1099-C this year;
- The Creditor’s phone number must be provided in the Creditor’s information box.
- Do not file Form 1099-C when fraudulent debt is canceled due to identity theft.
- Form 1099-C needs to be filed even if the debtor is not required to report the debt as income.
I’m just reminding you of some helpful tips for completing this form, here is a link to the instructions if you would like to check them out.
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