Laser 1099 C, Federal Copy A
TF5137, Laser 1099-C Federal Copy A
- Item# TF5137
- Size: 8 1/2" x 11"
- Federal Copy A
- Three forms per sheet
- For laser or inkjet printers
- Min. Order: 100
Laser 1099 C, Federal Copy A
Paper Filing Due Date: To Recipient January 31st.
Use to Report: Cancellation of a debt owed to a financial institution, the Federal Government, a credit union, FDIC, a military department, the U.S. Postal Service or any organization having a significant trade or business of lending money.
When a creditor cancels a debt without seeking any compensation in return, the taxman wants his piece of the cake. The rules state that in the event of a cancellation of a debt, the amount of the debt shall be treated as the debtor’s income and such income is to be reported to the IRS in 1099-C Tax Form Copy A. Copy B is sent to the debtor for information and inclusion in his or her income for the year.
Amounts to report: $600 or more.
Don't forget the compatible envelopes: TF22222