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Hi - first time home buyer here and going through the loan process on a quick close, which has me a little stressed to get all appropriate documents as fast as possible. In that, I got my tax returns from the past 2 years to provide our mortgage banker. He said there should be more pages to the federal tax returns, as I provided him with about 4 for each year. Confused as to what more he needs? He said in original email all pages and schedules, but don't have any further pages from our accountant. Is this something I'd have to request from the IRS? Please help.

Please advise.... Today (5/22/2014) I received a letter from NYS Dept. of Taxation and Finance claiming I owe them $1000.03 (Tax amount assessed $793.00 + Interest amount assessed $207.03) Payment due day date: 06/09/14. The letter claims I owed the NYS Tax dept. because of Forgive Fed. Debt $7,600.00 CITIBANK SOUTH DAKOTA NA. They claim I was sent notification from IRS on 04/09/2012 of the above charges to my 2010 federal income tax return. I remember back in 2009 I settled a debt with Rubin and Rothman LLC for $10,000 on a $20.000 debt that was before I knew about Creditboards. I kick myself everyday that I paid them so much on a debt they paid pennies on the dollars for. I know dealing with the IRS is like dealing with KGB, and maybe I am shooting in the dark for a resolution, but I never was notified about this debt. My question is will I be able to dispute the interest that was assessed on the money?? I never received a letter. Why wait two years again to send me another notification strong arming me to pay within two weeks. Any insight will be greatly appreciated -RealMckoy

There's growing chatter here as of late about the flurry of 1099-c forms going out to (former) debtors. Before the threads go in a hundred different directions, I was hoping we could wrangle all the questions and answers into one thread or perhaps one of the board gurus can slap together a Master Thread. I ask this not only in the spirit of altruism (so that future generations can find a central repository for our knowledge and not go nuts as we all did in the past looking in 100 places for one answer to one question), but also for personal reasons... The gurus here helped me fix up my wife's and my credit years back (thanks again) so I moved on to helping the family. My brother's repair has been a thorn in my side for YEARS. It went well at first and I took care of everything EXCEPT two chargeoffs...I've been stuck on them for YEARS. I've tried everything (except paying, LOL) without any movement. Today, however...he got two of those 1099-c forms stating "We will no longer attempt to collect the unpaid debt on your account"--one from Chase and one from Citi. This, obviously, is something new and I want to figure out how to leverage it in my favor with regard to credit repair. In other words, any movement on the part of the creditor is good news--it's just a matter of figuring how to work it into a deletion. So...If I'm reading the other threads correctly (and please correct me if I am wrong): 1) The amount on the 1099-c must be factored into his income and taxes paid on it. In other words, if chase is 2k and citi is 1k, he's going to owe tax on 3k. Assuming federal tax to be around 30% for his current bracket, that would be about $900 which is great news as paying that would be a lot less than $3,000. 2) Furthermore, if he can prove he was insolvent at the time (he was), he will pay nothing 3) Any "Identifiable event code" other than "H" (his was "G") means that the debt was written off and not sold off. In other words, no CAs will be harrassing him (?). I don't know if that's all correct, I'm culling it from other answers in other threads. If not, please let me know. Anyway, this brings us to the big question vis-a-vis credit repair (this is the purpose of the Web site, after all): ARE THERE ANY NEW SUGGESTED STRATEGIES FOR REMOVING THE CHARGE-OFFS ASSOCIATED WITH THESE ACCOUNTS NOW THAT THE LENDERS HAVE OFFICIALLY WASHED THEIR HANDS (1099'D) OF THESE DEBTS? I see the angle here for the lenders--the banks are probably getting more of a net addition to their balance sheets by writing it off as bad debt since, in this day and age, collection agencies are bidding less and less for debt (especially small debt) and with any luck they will soon go the way of the dodo. In other words, the banks are doing it with the bottom line in mind, not to help people (even if they do so in a roundabout way). Anyway, the banks are minimizing loss on the debt and they are happy, does that mean (I'm assuming/hoping so) that they now could care less whether or not there is a CO on Joe Schmoes CR? In other words, will a deletion through a dispute--or, perhaps a Goodwill letter--be easier now? Any answers from experience, gut feelings, crystal ball-readings or jut plain educated guessing will be great for the discussion.

Ok... I'm in the middle of a refi and my appraisal came back short. For me to do this refi, I now have to either pay off the 2nd mortgage, subordinate the 2nd (which I hear is almost impossible these days, unless I do a Harp loan or go with the same lender for the 1st mort, that's holding the 2nd), or get PMI. I'm leaning towards PMI. I've got the cash to pay off the 2nd mortgage, but I'm thinking I should just do PMI... I haven't heard back from my loan officer, but from my research, it looks like my PMI would around $70 a month or $2100 upfront.... I could also go to closing with $15K in cash to get me to 80% too.. I don't want to empty my bank account, but I hate the idea of monthly PMI, so I'm thinking I should just pay the upfront PMI. The question is, is upfront PMI tax deductible like monthly PMI is? If it's tax deductible, I'm thinking of paying it upfront, assuming it comes in around $2000. What are your thoughts on this, especially about the tax deductibility, ssuming my numbers are accurate? BTW, when I calculated my monthly PMI, my figure .... based on calculations I found online, were about double the $70. The $2100 upfront and $70 was given to me by a loan officer, based on the numbers I provided.... I gave him my mid FICO, current appraisal, and what I was looking to borrow.

It is my extreme pleasure to have met you CBdians! What a wealth of information I have been privy to. I have been reviewing the board for quite some time now, (often as if cramming for an exam) and am happy to say that I am now officially a member. I truly don’t know how I stumbled upon you, but I was devouring the internet in an effort to get back on track and somewhere there was a mention so I started to read, and read, and read! Death, BK7-2011, and some other stuff have been thrown my way, but I am climbing back up slowly and with the knowledge gained here, I am confident. Encouraged and given examples, I mustered the courage to apply for, AND RECEIVED, Priceline, Kohl’s, Barclays, Cap1 and Walmart. Two Credit Unions denied, but I’m ok with that and will retry at the end of year. I think I’m drifting at about 675. I had already gotten a secured Cap 1 shortly after BK, but was fearful to use it. With a new vision of credit, each will be used to pay a monthly household bill, PIF each month. I ordered my reports, but began my initial triage from my printouts as I wait. I was totally blindsided to see a (satisfied) Judgment from NYS taxes and immediately sent a request for a Cert. record. If all is identical to what my reports show, can I still send letter/call to credit bureaus re: ssn attachment? I’m thinking that since it’s taxes – they are pretty much ssn-driven, so won’t that be easy for them to connect? Has a goodwill letter pleading directly to the NYS Finance Tax Dept ever been tried/worked?? I thought I read somewhere that the IRS created some sort of lien leniency? Any relevance to my issue? In spite of my current situation, I feel rich and empowered having met all of you and just want to say THANK YOU, THANK YOU, THANK YOU CREDIT BOARDS. (By the way, does anyone else find this board addicting?)

first time filing as married... I was just curious if any tax software will let us put all our info in and then determine which method would give us max savings? thanks