Getting Rid Of Tax Debts In Bankruptcy: Difference between revisions
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Revision as of 11:35, 11 September 2026
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Just like your employer is needed to send a W-2 to you every year, a lender is required to send 1099 forms each borrowers which debt forgiven. That said, just because lenders are hoped for to send 1099s doesn't suggest that you personally automatically will get hit along with a huge goverment tax bill. Why? In most cases, the borrower is a corporate entity, and you are just an individual guarantor. I know that some lenders only send 1099s to the borrower.
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