Legal Question in Social Security Law in California

I am 64 years old and I am on Social Security. I have a part time job which is equal to my annual SS.

I have to use a debt settlement company for my financial situation. I understand that any amount of debt that is not paid upon settlement, will be reported on a 1099-c form to the IRS. My question is this, will this 1099-c affect my SS payments, since it will put me over my SS payment total for the year?


Asked on 6/10/10, 3:40 pm

1 Answer from Attorneys
Stan Lockhart Law Offices of Nations and Lockhart

Look at form IRS982, if you are insolvent it will exclude 1099C reported income.

Read more
Answered on 6/12/10, 7:37 pm


Related Questions & Answers

More Social Security Law questions and answers in California