Re: 1099-C issues and charge off,Please help!!
08-03-2012 06:14 PM
Golo did I read correctly that you just now recieved the 1099? By any chance did you keep the envelop and did it have an actual postmark? By law all 1099's and W2's must be mailed by January 31st of the year after they apply, so January 31st 2012 for tax year 2011. If you can prove Sears just now sent it to you waaayyy after the deadline you might avoid any penalties for failing to include in an your return. Let me know what ypu have and I'll comment further.
+1 ... I forgot to mention, if you do wait for the IRS to audit you, you will be hit with CRAZY late fees and penalties. Try to prove they sent it late. If you were insolvent, make sure you can prove that as well. You should end up okay.
2011 - Debts paid
2012 - Rebuilding started - EQ myFICO 636
2013 - Student Loan, 3 CC, auto loan - EQ myFICO 663