Can a credit card company report your debt to IRS if you don't pay?
Answer: yes or not I don't know myself but it'll be here somewhere:
if you get any luck please don't forget about me lol, hope it helped you!
nope... they cannot... you can pay for IRS cash... so the bank will never know... although the IRS could verify you bank accounts and so one... you`ll get a letter if you don't pay... and then... they`ll come after you in a couple of years.
they report you to credit bereau Transuion, equifax, experince in the turn you have the low credit score that bring your payment higher, hard to get the good loan
Why would the IRS care about your debt? They are only interested in your income.
What the credit card company reports you to is a collection agency. This is not a road you want to go down.
no, they cannot,but the IRS can check with your card co.
More uneducated answers.....;(
Yes they can.
When you don't pay your debt, eventually the company will accept the fact that this is a bad debt, and they will "write off" the account. In doing so, they can get a tax break for the loss.
But in exchange, they must file a 1099c form with the IRS that charges the customer with an income. They profited by not having to pay off a debt, and will be responsible for the tax liability on it.
Many times the creditors do not send you a copy of the 1099c. When you file your tax return, the IRS will want to know why you didn't include it, and it could hold up your taxes, or even trigger an audit.
They don't always file these, but you need to be aware of it just in case.
THE IRS IS ONLY FOR FEDERAL INCOME TAXES THAT YOU HAVENT PAID.THE IRS CANT MAKE YOU PAY THE CREDIT CARD COMPANY.
No. Only school/government loans, and child support.
nope. irs doesn't have anything to do with debt from someone else. they only care about the debt that you owe them.
Yes they can it is counted as income
No the IRS has nothing to do with your credit card debt unless you try to pay your taxes with it.
ask lawyer. their first visit is usually free.
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