1099-C and 1099-A Reporting
Rules and Recent Court Decisions
A NorthLegal Webinar Presented November 20, 2014
Cost/Registration | How to Attend a Webinar
Enroll Now
Handout Materials
After enrolling, click here to obtain the handout materials in PDF. Then contact NorthLegal (623.537.7150) to obtain the password you will need to open those materials.
When was the last time you looked at your 1099-C "Cancellation of Debt" policies and procedures?
A number of court decisions have been issued relating to 1099-C reporting since the last NorthLegal Webinar on this subject two years ago -- more than a dozen in 2014 alone. Many relate to important issues, such as whether a debt is still collectable after it has been reported, and when a collector may be sued for threatening 1099-C reporting.
Do you know what the difference is between a 1099-C and a 1099-A, and the circumstances that should trigger filing of one or the other?
Do you know what your financial institution's liability is if you report when you shouldn't, fail to report when you should, or improperly complete the forms?
During this program, attorney Eric North talks with participants about the rules and court decisions relating to the reporting of "cancelled" debt, including—
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Late November and early December are the best time of year to take a look at your 1099-C and 1099-A reporting policies and procedures and to begin thinking about which accounts you will have to report. Actions you take now can affect what you must report in January! |
- Whether and how to report losses from foreclosures, short sales, and voluntary surrenders of property.
- What you should do if a debtor pays a debt after a 1099-C has been filed.
- The effect of sale or assignment of a debt on reporting requirements.
- The significant risks of using 1099-C or 1099-A reporting as a collection tool.
- When debts discharged in bankruptcy should and should not be reported.
- How courts interpret your 1099-C reporting obligations.
- Common mistakes financial institutions make with respect to 1099-C and 1099-A reporting, and how to avoid them.
NOTE: This program is intended for employees of consumer lending
institutions. Please contact NorthLegal Training and Publications to obtain approval
before registering if you are not an employee of a consumer lending institution.
Cost/Registration
The fee to attend this archived program is $160.00 if paid by credit card or
$170.00 if paid by check. For that fee, you or someone from your financial
institution may view this program as often as you like for a period of 180 days. (NOTE: If your financial institution registered for the live program, you already have free access to the archvied version for 180 days! Contact NorthLegal for information.)
How to Attend a Prerecorded Webinar
To attend this NorthLegal Webinar, please do the following:
| • | Register. To register online using a credit card, visit the "Enroll Now" link shown above. To register by mail, call NorthLegal at 623.537.7150. |
| • | Check your email. Within moments after you complete the registration process you should receive two emails. One will be a receipt for the transaction and the other will contain a link and detailed instructions explaining how to use that link to attend the program. |
| • | Download the handout materials by clicking the "Handout" link shown above. |
| • | Call NorthLegal to obtain the password to open the handout materials. |
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» 2015 NorthLegal Collections Conference
Speaker: Eric North
Eric North, the primary speaker at the programs listed on this site, has represented the interests of credit unions and other financial institutions as an attorney with respect to litigation, compliance, governance, bankruptcy and collections matters since 1984. Eric has appeared in state and federal courts throughout the State of California, and has argued before the Ninth Circuit Court of Appeal.Eric is also a nationally recognized speaker on legal issues relating to consumer lending institutions, and has presented hundreds of programs on behalf of national, state and local leagues and associations from around the country.
Webinar scheduling conflict? No problem. Registration for a NorthLegal Webinar allows you to watch it live AND allows you or others from your financial institution to watch it as often as you like for 30 days! If you can't make the live program, you still have plenty of time to watch at a time that is more convenient for you!