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Charge offs.


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Not real sure where to put this one, so lets start out here.

I talked with the IRS this morning about our 2003 taxes and the fact that we haven't paid them yet. In our discussions, she pointed out that for taxes in excess of $1000 owed, we should have been making quarterly payments. I said, understood, but much of what we owe was penalty for early withdrawal from IRAs to keep our business running. She said okay, we can excuse that but what about Captial One? I said, huh? She said we have a 1099 from income your received from Capital One...I said, for 2003? She say no...for 2002.

Hmmm...the only dealings I remember having with Crap 1 was for BUSINESS credit card, which we did default on...but that was in 2003. I asked her to send me a list of income they have on record, just so I can compare...but here's the questions...

If a CC writes off a BUSINESS card that you have personally guranteed, can they report that as PERSONAL income or should it be income to the business?

Can I dispute the personally guranteed business CCs that appear on my credit report as "not mine"?

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