from Qwest Credit Enhancement Blog http://bit.ly/2HIcBXD
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Did you know that the Internal Revenue Service considers forgiven debt a source of income, and have to pay taxes on that “income.” And if you’ve ever settled a debt for less or had debt forgiven entirely, you probably got a surprise in the mail come tax season: the dreaded Form 1099-C. Form 1099-C is the form you file to report debt-related income.
Equifax, in duplicating two delinquent bills on a credit report, is making a Byram woman look like a deadbeat debtor, a lawsuit filed Thursday against the credit reporting giant says.