Rachel Williams has been an editor for nearly two decades. She has spent the last five years working on small business content to help entrepreneurs start and grow their businesses. She’s well-versed ...

Form 1099-C reports canceled debt to the IRS when a creditor has forgiven or erased a balance owed so a taxpayer no longer has to pay it. What Is Form 1099-C: Cancellation of Debt? Lenders must submit ...