13Sep/092
What bering does a 1099 have on a loan?
Annie asked:
I have a loan with a former employer that I currently cannot pay back and the company sent me a 1099 (7) Nonemployee Compensation for the amount of the loan. Can one still be sued? According to the IRS this is considered as an uncollectible debt and the debt is forgiven." Does this have any weight with the suit?
Clyde
I have a loan with a former employer that I currently cannot pay back and the company sent me a 1099 (7) Nonemployee Compensation for the amount of the loan. Can one still be sued? According to the IRS this is considered as an uncollectible debt and the debt is forgiven." Does this have any weight with the suit?
Clyde
