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IRS FORMS
IRS Forms
eFile Form 1099-C Online
Securely prepare and file Form 1099-C to report cancellation of $600 or more in forgiven debt.
What is Form 1099-C?
Form 1099-C is an IRS information return used by creditors—such as banks, trust companies, and credit unions—to report the cancellation of $600 or more in debt owed by a debtor. Debtors may include individuals, corporations, partnerships, trusts, estates, associations, or other entities.
Form 1099-C must be filed even if the debtor does not treat the canceled debt as taxable income.
In addition, a copy of Form 1099-C must be furnished to the debtor for their records.
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What Form 1098-T Reports:
Form 1099-C is used by creditors to report the cancellation of debt owed by a debtor. Debtors may include individuals, corporations, partnerships, trusts, estates, associations, or other entities.
The form is filed by organizations that regularly lend money, including banks, credit unions, finance and credit card companies, certain government agencies, and the Federal Deposit Insurance Corporation (FDIC).
Form 1099-C must be filed even if the debtor does not ultimately report the canceled debt as taxable income. Each debt cancellation must be evaluated separately—multiple cancellations should not be combined to meet or avoid the $600 reporting threshold, unless they are part of a plan to circumvent reporting requirements.
1099-C IRS Deadlines
The deadline for filing Form 1098-T with the IRS is typically January 31st.
Recipient Copies: January 31st
IRS Deadline: March 31st
Note: If January 31st falls on a weekend, the due date will be the next business day. Exact deadlines for each year can be found on the IRS website.
Information Needed to File Form 1099-C
To accurately complete Form 1099-C, you’ll need to gather the following information related to the creditor, debtor, and canceled debt.
1. Creditor Information
Creditor’s legal name
Taxpayer Identification Number (TIN)
Mailing address
Telephone number
2. Debtor Information
Debtor’s name
TIN
Address
Account or loan number
3. Debt Cancellation Details
This section may include:
The date the debt was canceled or the date of the identifiable event
Total amount of debt canceled
Description of the debt (for example, student loan, mortgage, or credit card debt)
Any interest included in the canceled amount
The IRS code that corresponds to the identifiable event
Fair market value (FMV) of the property, if applicable
How to File Form 1099-C Online with eFile My Forms
Filing your 1099-C forms online is faster, more accurate, and more affordable than traditional paper filing. Our streamlined process takes just minutes:
Step 1: Input Recipient Information
Choose the method that works best for your business:
- Manual entry: Perfect for businesses filing 1-10 forms
- Excel/CSV upload: Bulk import for 10-100 forms using our template
Step 2: Enter Form Information
Complete all required information for Form 1098-T and put in total amounts for each box.
Step 3: Review and Validate
Our system automatically checks for common errors including:
- Missing or invalid TIN numbers
- Incorrect name/TIN combinations
- Address formatting issues
- Missing required information
Step 4: Submit and Deliver
Once you approve your forms:
- We e-file directly with the IRS (same business day for submissions before 5 PM ET)
- Recipient copies are printed and mailed via USPS
- You receive confirmation of IRS acceptance
- All forms stored securely for 3+ years
Frequently Asked Questions to IRS Form 1099-C
What Are the IRS Late Filing Penalties for Form 1099-C?
If you fail to file Form 1099-C with the IRS or furnish copies to the recipient by the required deadlines, the IRS may assess penalties. Penalty amounts generally range from $60 to $680 per form, depending on how late the filing occurs and the size of your business.
What Are the Copies of Form 1099-C?
Form 1099-C includes three copies, each with a specific purpose:
Copy A – Filed with the IRS
Copy B – Furnished to the debtor
Copy C – Retained by the creditor for record keeping
What are the due dates for Form 1099-C?
For tax year 2025 reporting (reported in early 2026), recipient copies are due by February 2nd, 2026 and Form 1099-C must be filed with the IRS by March 31st, 2026 (if filing electronically).
Start Filing Your 1099-C Forms Online Today
Simplify cancellation of debt reporting. Start filing 1099-C forms today.