A Form 1099-C is sent to a customer when a debt of $600 or more is canceled.
The IRS may consider the debt or portions of the forgiven debt as income leading to a one-time tax charge. A tax adviser or the IRS can assist you on what to do with the form.
If you want to pay any portion of the amount reported on the Form 1099-C, please call us at 1-800-284-2271.