1099-C Reporting: Rules
and Myths
A
NorthLegal Webinar
(Recorded December
21, 2006)
More than ten years have passed since the Internal
Revenue Service first issued regulations requiring financial
institutions to report annually which borrowers were not repaying their
loans so the IRS could try to tax those borrowers for the amounts they
did not pay. Unfortunately, the passage of time has done little to
help credit unions and others understand just what is and is not required
of them. As a result, many credit unions spend way too much time reporting
individuals who need not be reported and who will never be taxed, while
other credit unions still do not report at all!
Join
credit union attorney for a replay of this information-packed
90 minute prerecorded webinar, focusing on this specific and very important
subject! During this program, you will learn:
• |
Does
the IRS really tax people on debts they did not repay?. |
• |
Must
bankrupt accounts be reported to the IRS? When?. |
|
When
is 1099-C reporting required? At charge-off? Sooner? Later? |
• |
If
the credit union files a 1099c regarding a debt and the debt
is later paid, what are the credit union's responsibilities? |
• |
May
the credit union sue to recover a debt even after filing a 1099c? |
• |
May
the credit union use 1099c reporting as a way to encourage borrowers
to repay? |
• |
Who
is responsible for reporting: the credit union or its collection
agent? |
Stop
wasting time with unproductive reporting, but ensure your credit union
is in compliance!
NOTE: This program is intended for employees of credit unions. If you are
not a credit union employee, please contact The North Law Firm to obtain
approval before registering.
Cost/Registration
The registration fee for this program is normally $125.00 -- but for a limited
time (until February 15) is only $75.00 --
per telephone/Internet connection if paid by credit card (online or by telephone), $135.00 if
paid by check.
(Checks must be received at NorthLegal prior to the beginning of the
program. Sorry, but we cannot invoice for this event.) For that single price,
you may have as many participants as you wish listen (over a single
telephone line and Internet connection)
in a conference room or office! To register, click here or
telephone NorthLegal Publications and Training at 623.537.7150.
Regions
Affected
This
program is not state-specific, and will be important to credit unions
from around the country.
Co-Hosts
Although credit unions from any state may attend this program, this program
is jointly hosted by NorthLegal Training and Publications and by the following
organizations:
The
Arizona Credit Union System
The California Credit Union League
The Delaware Credit Union League
The Hawaii Credit Union League
The Iowa Credit Union League
The Louisiana Credit Union League
The Massachusetts Credit Union League
The Mississippi Credit Union League
The Montana Credit Union League
The Nevada Credit Union League
The New Hampshire Credit Union League
The North Dakota Credit Union League
The Northwest Credit Union Collectors Council
The Credit Union Association of Oregon
The Pennsylvania Credit Union Association
The Rhode Island Credit Union League
The South Dakota Credit Union League
The Utah League of Credit Unions
The Utah Credit Union League
The Washingon Credit Union League
The West Virginia Credit Union League
(Credit
unions do not have to be members of any of those leagues or associations
in order to attend.) Attending
a Webinar
To register for a replay of this program, please:
1.
Visit http://www.culaw.com
2. Click on "Legal Training" and then on "NorthLegal Webinars"
on the menu at the top
3. Select the program you would like to attend
4. Register
5. Call NorthLegal Training and Publications at the number listed below to
arrange for a copy of the slides or other handout materials to be emailed to
you.
6. Attend the program online at your convenience. You
will need access to a computer with an Internet connection and a sound card.
(A high-speed connection is not required, but is definitely better if you have
access to one.) telephone and an Internet connection.
NorthLegal Training and Publications
20280 North 59th Ave., No. 115-334
Glendale, Arizona 85308
Telephone: 623.537.7150
Facsimile: 623.537.7921
Email: northlegal@culaw.com
|
NorthLegal Webinars
NorthLegal Bankruptcy Conference for CUs
Speaker: Eric North
 Eric
North, the primary speaker at the programs listed on this site, has represented
the interests of credit unions 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 subjects affecting
credit unions, and has presented hundreds of programs for
for national, state and local credit union leagues and associations from
around the country.
Upcoming Conferences!
NorthLegal Bankruptcy
Conferences
-- Everything Bankruptcy
January 12 to 15 or 16, 2009
The Royal Plaza
at Walt Disney Resort
Lake Buena Vista, Florida
>> Information
and Registration
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