http://blog.equifax.com/tax/how-to-avoid-getting-taxed-for-phantom-income-and-debt-forgiveness/ Wed, 19 Jun 2013 22:02:22 +0000 hourly 1 http://wordpress.org/?v=3.5 http://blog.equifax.com/tax/how-to-avoid-getting-taxed-for-phantom-income-and-debt-forgiveness/#comment-15566 EFX Moderator, EM Mon, 11 Feb 2013 19:35:14 +0000 http://ec2-50-19-98-117.compute-1.amazonaws.com/tax/how-to-avoid-getting-taxed-for-phantom-income-and-debt-forgiveness/#comment-15566 Was your debt recently forgiven by the lender? They could issue a 1099C in that case. You can review information on debt cancellation on the IRS website: http://www.irs.gov/Individuals/The-Mortgage-Forgiveness-Debt-Relief-Act-and-Debt-Cancellation-. I hope this helps.

]]> http://blog.equifax.com/tax/how-to-avoid-getting-taxed-for-phantom-income-and-debt-forgiveness/#comment-15532 Furious Sun, 10 Feb 2013 05:13:12 +0000 http://ec2-50-19-98-117.compute-1.amazonaws.com/tax/how-to-avoid-getting-taxed-for-phantom-income-and-debt-forgiveness/#comment-15532 I would like to know if a lender can still file a 1099-c on a debt that is more than 10 years old. I have not heard from this lender in years then all of a sudden I get the tax form in the mail. Am I Legally obligated?

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