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Form 1099-Misc is a tax form that reports the year-end summary of all non-employee compensation.
Maybe. The IRS will automatically assume that the amount listed on the 1099-C is accurate and expect you to include that amount in your ordinary income when you file your tax return. Depending on the other income you earn and your tax bracket, the result could be a larger tax bill or smaller refund. received a 1099-C for a debt my ex was supposed to pay. The IRS generally expects creditors to file 1099-Cs for joint debts. Whether or not you are required to pay taxes on that amount depends on who actually receives a Form 1099-C showing the full amount of debt.