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Revision as of 04:10, 1 November 2026
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Wondering why? I've had clients ask me to utilize to negotiate the taxability of debt forgiveness. Unfortunately, no lender (including the SBA) has the strength to do such a little something. Just like your employer ought to be needed to send a W-2 to you every year, a lender is necessary send 1099 forms to every borrowers in which have debt understood. That said, just because lenders are required to send 1099s doesn't suggest that you personally automatically will get hit with a huge goverment tax bill.
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