kcjenkins Posted March 16, 2013 Report Share Posted March 16, 2013 I'd be willing to bet he did not give the 1099-C to the preparer who actually filed his return. Quote Link to comment Share on other sites More sharing options...
michaelmars Posted March 16, 2013 Report Share Posted March 16, 2013 an agent that says they should sell what they bought should be fired. i would have registered a complain she was bias. maybe the credit cards were charged for medical expenses, a sick kid, etc. maybe a funeral for a parent. Not everyone in financial trouble it there by their own fault and an irs agent shouldn't assume the worst. Quote Link to comment Share on other sites More sharing options...
Cathy Posted March 17, 2013 Report Share Posted March 17, 2013 Let me get this straight: An innocent spouse form was filed each year so not to penalize his wife for his student loan he has refused to pay for decades. The wife owed $32,000 on a credit card in her name and she makes $75,000 per year with her employment. Poor thing...no wonder she couldn't make monthly payments! Due to the bail out of the banks, they are turning out these 1099-c's left and right! The fact that she got one doesn't mean she couldn't afford to pay it any more than a MFJ client I have who gave their child a $30,000 wedding and then sought forgiveness of all of the credit cards used for the wedding. The fact that this same couple's income is about 200K a year didn't make the clients feel responsible for paying their bills. After they filled out their worksheet of Assets and Liabilities, I had to remind them to include their retirement accounts, the FMV of their real estate, etc. They were surprised when they discovered their assets far exceeded their liabilities (or at least they acted surprised). They weren't insolvent by any means but had heard of so many others getting their credit cards written off! Ms Kats, You are sooooo much better off without your ever having to prepare said PITA's return again! Don't worry about bad publicity from a guy like him...anyone who knows him will consider it a compliment to you if he ever bad mouths you! Every PITA you get rid of in a year just makes your next tax season sweeter! Take Care, Cathy Quote Link to comment Share on other sites More sharing options...
MsTabbyKats Posted March 17, 2013 Author Report Share Posted March 17, 2013 Thank you Cathy! You "got it" right, perfectly! When the subject of his student loans came up, a few years ago, which is why he needed the innocent spouse form, I asked him "why didn't you pay it back over the course of 40 years?". His response was something like "because I think the govt should pay for my education". Now this is just nonsense. He's a little older than me. NYC, at that time, had an entirely free (very highly rated...very academically challenging) college system (now it's low cost and not so highly rated). We paid a $34 registration fee per semester. So the govt did offer him a free education. But, he chose a private institution. He had the option of "free". Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.