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    lk123's Avatar
    lk123 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Mar 10, 2008, 09:13 AM
    1099C not being sent for 3 yrs
    Im being told by Citi card that they will not send the 1099C for 3 yrs
    And IRS states that is a banking law, possibly okay. Can anyone tell me
    If this is correct and does this accure interest or what ?:eek:
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 28, 2008, 12:50 PM
    Form 1099-C is for forgiven debt, so it should NOT accrue interest if they choose not to issue the form.
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