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To embed, copy and paste the code into your website or blog: Once again, a borrower who argued his debt was cancelled when he received an IRS Form 1099-C was told by the court that it was merely discharged. The court says “discharge” is not “actual discharge.” While acknowledging that a common consumer may not easily understand the distinction, the court held that “discharge” for IRS reporting purposes is not necessarily “actual discharge” of the obligation. In Gericke v. Truist, et al, (cited as 127 AFTR 2d 2021-XXXX, (DC NJ), 03/26/2021), the United States District Court for the District of New Jersey Camden Vicinage, held that the lender’s issuing of an IRS Form 1099-C, which stated that the lender essentially was discharging the debt because of a “decision or policy to discontinue collection” did not result in the debt being cancelled. In this case, the lender provided clear evidence that the borrower was aware that the lender provided the Form 1099-C so

United statesMcglinchey staffordUnited states district courtCourt analysisNew jersey camden vicinageInternal revenue codeIssue formFederal governmentஒன்றுபட்டது மாநிலங்களில்ஒன்றுபட்டது மாநிலங்களில் மாவட்டம் நீதிமன்றம்நீதிமன்றம் பகுப்பாய்வுஉள் வருவாய் குறியீடுபிரச்சினை வடிவம்கூட்டாட்சியின் அரசு