[Dmk-TX]

My 82 year old mother received a collection notice stating if she does not pay the amount owed on a 10 year old credit card debt they will file under 26 U.S.C. 6050P of the Internal Revenune Code requiring them to file IRS Form 1099-C .


The colletion company is not the original credit card company.

[aaron]

26 U.S.C. 61(a)(12) and 6050P, 26 CFR 1.6050P-1, and 31 CFR 903.5 state that any financial institution (as defined in 26 U.S.C. 6050P(c)(1)) that discharges an indebtedness of any person of at least $600 during a calendar year must file an information return on Form 1099-C with the IRS.