1099-C Form

Business, Legal & Accounting Glossary

Definition: 1099-C Form

1099-C Form

Full Definition of 1099-C Form

Cancellation of Debt. This form is used for dealing with tax that must be paid when a personal debt has been cancelled by its creditors. This form is typically only used when a debt has gone unacknowledged for a certain period of time. The creditor can report this “lost income” to the IRS in order to lower their tax burden.

Cite Term

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Page URL
Modern Language Association (MLA):
1099-C Form. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
December 08, 2021 https://payrollheaven.com/define/1099-c-form/.
Chicago Manual of Style (CMS):
1099-C Form. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/1099-c-form/ (accessed: December 08, 2021).
American Psychological Association (APA):
1099-C Form. PayrollHeaven.com. Retrieved December 08, 2021
, from PayrollHeaven.com website: https://payrollheaven.com/define/1099-c-form/

Definition Sources

Definitions for 1099-C Form are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 13th November, 2021 | 0 Views.