If a copy of 1099C has not been sent to the state, how would the state know?
no
Yes. A 1099C is confirmation from the creditor or lender that the debt has been cancelled and collection efforts have ended. The bad news is, the amount shown on the 1099C is considered taxable income and must be claimed on your federal tax return.
You do not have to report any income tax refund on any tax forms, it is not income.
Find the deadline in your state and report them to state board if they don't provide them in time.
As of August 1, 2009, the sales tax rate in the Commonwealth of Massachusetts is 6.25%.
The state sales tax rate in Massachusetts is 6.25%
As of August 1, 2009, the sales tax rate in the Commonwealth of Massachusetts is 6.25%.
As of August 1, 2009, the sales tax rate in the Commonwealth of Massachusetts is 6.25%.
no
You pay taxes in the state where you register the car.
Yes. A 1099C is confirmation from the creditor or lender that the debt has been cancelled and collection efforts have ended. The bad news is, the amount shown on the 1099C is considered taxable income and must be claimed on your federal tax return.
No, but you may have to report it as income on your own state's tax forms.
massachusetts
It should. * Yes, and the debtor will receive a 1099C from the creditor, the amount shown on the form is considered taxable income under IRS rules and must be reported on the debtor's tax return as such.
AnswerWhen creditors cancel or "forgive" a debt they must send the debtor a 1099-C and also report it to the IRS. The IRS may consider the amount of the cancelled income taxable. Consult a tax professional.
You do not have to report any income tax refund on any tax forms, it is not income.
No, Only pay the Massachusetts state that you residance)