newlifewcc Posted September 27, 2013 Report Share Posted September 27, 2013 just received a notice from the IRS related to my 2011 tax return. It seems CapOne filed a 1099-C in Dec. 2011 for debt discharged/cancelled in my 1999 bankruptcy in NJ. I currently live in RI. Isn't there a statute of limitations on this? My guess is this was triggered by my new account with CapOne opened in Aug. 2011 in RI. Can I request validation on this? Obviously I never received the 1099-C since they haven't had my address in years! Link to comment Share on other sites More sharing options...
WhoCares1000 Posted September 27, 2013 Report Share Posted September 27, 2013 File an amended 2011 tax return with form 982 where you show that the debt was cancelled in BK. This should take care of the deficiency notice. Make sure to use the form from 2011, not the one from 2013.If you are unsure as to how to do this, either ask the BK attorney or find a tax prepared or CPA to help you. BK is one of the things that cancels out a 1099-C. 1 Link to comment Share on other sites More sharing options...
jq26 Posted November 16, 2013 Report Share Posted November 16, 2013 Common problem. A 982 should take care of it. Be sure not to stick your head in the sand. As the years go by, the IRS will not forget and it becomes harder to fight. Link to comment Share on other sites More sharing options...
VADebtor Posted November 16, 2013 Report Share Posted November 16, 2013 I agree, you can't let this go. But the 1099-C is inaccurate since the debt was discharged in 1999. That discharge required them to send the 1099-C then. I would write this all in a letter to the IRS with a 2011 982 asking why this isn't an inaccurate 1099-Ct and why Capital One isn't sanctioned for filing same.. But I would also file complaints with the CFPB, the Comptroller of Currency and your state Attorney General for filing a false report with the IRS. Link to comment Share on other sites More sharing options...
WhoCares1000 Posted November 16, 2013 Report Share Posted November 16, 2013 I would not bother writing a letter to the IRS. They really do not care when the 1099-C gets filed as long as it does. Really a waste of your time. Complaints are better to the other organizations and maybe to your congresscritters regarding the mess that this 1099-C has become. Link to comment Share on other sites More sharing options...
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