Liability for False 1099-C?

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Yahoo Bot
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Joined: Sun Oct 18, 2020 11:38 pm


A few clients have recently shown me 1099-C statements they received from Chase, as successor to old WAMU loans. Despite BKs in each instance, Chase sent them 1099-C forms, and on the form where it asks whether the borrower was in bankruptcy, Chase has stated no.
Despite the fact that this can be corrected by showing the requisite BK papers to the debtor's tax return preparers, shouldn't Chase be chided (?) for its sloppiness?

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