ZP - sorry to hear the bad news... Why was the credit company not sending you statements as well? If your name was on the account? Years ago, I signed for a family member, would get a statement and freak out when I would see the late notices etc.
Good luck - I hope it works out for you.
Yes, forgiven debt is considered income unless an exception applies but I'm pretty sure there's no applicable exception in this situation. It wasn't a student loan, a gift, a foreclosure, or discharged in bankruptcy. I think I'm forgetting something but those are the majors.To save my impeccable credit, I make a deal with the collection agency to pay less that what he actually owed.... I got them down from $3,500 to $2,300. A year later, the State of California says that I have to pay taxes on the amount I negotiated off the debt. (WTF?!?! News to me!) I then pay the taxes on that crap and assume everything if fine and dandy.
You should have received a 1099-C for the $1,200 that was forgiven. Did you?
Also did you pay federal taxes on the forgiven debt? If you didn't pay the feds, you might have that joyous surprise lurking in the future.
Now this I'm not sure about. Are they asking for only penalties and late fees because you didn't pay the tax when it was initially due (before they contacted you the first time)? Or are they actually asking for more tax PLUS penalties and late fees on this additional tax?NOPE... Over the weekend, I got a new notice from the State of California saying I owe MORE taxes on this issue, including penalties and late fees. I'm totally confused as to why I own MORE, when I paid what the STATE told me to a few years back. Now I have to try an talk to an actual person to see whats going on.
You already paid taxes on the whole $1,200, right? You didn't claim only part of it or something?
Did anyone get a chance to see actor Sean Hayes in the new 3 Stooges movie?
He played Larry I believe!
Last edited by TigerinColorado; 05-01-2012 at 02:35 AM. Reason: added pics
Might do Boston but it is up in the air on that one. It rained hard last year and everyone I know who went had a sucktastic time so not much interest in a repeat trip.
LOVE Providence pride. Such a small city every thing is easily walkable. Hotels are cheap. There are only a handful of bars and they do outdoor block parties so it isn't like herding cattle in NYC.
Sent from my tablet while sipping weak drinks over fancy brunch with a view
I have no idea what this video is about, and maybe al gore didn't have this in mind when he invented the internet, but it sure is fun to watch.
PLUS... he even owes my Mom $500... now that REALLY pisses me off the most.
Time for something to cheer me up.....
RIP Cosmic TDI
I did very much enjoy the movie though. I think all three guys did a great job of portraying their characters.
Thanks! I'll have to check it out. Maybe drag my cousins silly kids along.
I can remember watching B&W re-runs when I was very young and it totally cracked me up. Then again, I love physical humor.
I have a crush on Lance Bass.
Last edited by CRacer21; 05-01-2012 at 08:36 PM.
HILLARY JOINS GRINDR
RIP Cosmic TDI
Unrelated note about a later post: texts from Hillary is the best meme ever.