what if i dont get 1099c's

ericastiffler · #1 Jan 24, 2009, 10:16 PM

I settled several credit cards in 2008. I realize im responsible for the forgiven amount on my taxes which will be filed 2009.

I havent received ANY 1099's. Ive called my creditors, and they either say they sent them, or they dont know what im talking about. Ive asked them to send them again, or to send me a statement with the amounts forgiven so I know how much to claim. One of these accounts was with an attorneys office, and the others remained with the original creditor at the time of settlement.

I am insolvent. Im not responsible for the tax, but what am i supposed to do in the event i dont receive the 1099c? Do i just claim that amount on form 982? will i be audited if the irs didnt get the 1099, and ive claimed income that they arent aware of via the 1099?

For real, i dont want to get audited. what is my best option here? do i claim the total amount of forgiven credit on form 982, and also report my assets liabilities without the 1099c's?
or do i do nothing, and just file my taxes like normal if i dont get the 1099c's?

can i call the irs to find out if theyve received them? ive called them with questions about form 982 and they are NO HELP whatsoever.

ebaines · Jan 26, 2009, 03:42 PM

Actually the last date for mailing out 1099's this year is Feb 17. This is a note I just received from Charles Schwab:

We'll Mail Your 2008 Form 1099 Later Than in Previous Years

We’re writing to let you know that Schwab will mail your 2008 1099-Composite in mid-February 2009.

The Emergency Economic Stabilization Act of 2008 extended the required mailing date for Form 1099-Composite from January 31 to February 15. Due to Presidents' Day on Monday, February 16, 2009, the required mailing date will be further extended to February 17 in 2009.

If you use a TurboTax® software product to prepare your taxes, please don't attempt to import your tax information from Schwab until you've received your 2008 1099-Composite.