Can a credit card company report your debt to IRS if you don't pay?

yes or not I don%26#039;t know myself but it%26#039;ll be here somewhere:

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if you get any luck please don%26#039;t forget about me lol, hope it helped you!

Can a credit card company report your debt to IRS if you don%26#039;t pay?

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%26#039;t pay... and then... they`ll come after you in a couple of years.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

NO

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

Can a credit card company report your debt to IRS if you don%26#039;t pay?

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.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

no, they cannot,but the IRS can check with your card co.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

No..they cannot

Can a credit card company report your debt to IRS if you don%26#039;t pay?

More uneducated answers.....;(

Yes they can.

When you don%26#039;t pay your debt, eventually the company will accept the fact that this is a bad debt, and they will %26quot;write off%26quot; 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%26#039;t include it, and it could hold up your taxes, or even trigger an audit.

They don%26#039;t always file these, but you need to be aware of it just in case.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

THE IRS IS ONLY FOR FEDERAL INCOME TAXES THAT YOU HAVENT PAID.THE IRS CANT MAKE YOU PAY THE CREDIT CARD COMPANY.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

No. Only school/government loans, and child support.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

nope. irs doesn%26#039;t have anything to do with debt from someone else. they only care about the debt that you owe them.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

Yes they can it is counted as income

Can a credit card company report your debt to IRS if you don%26#039;t pay?

No the IRS has nothing to do with your credit card debt unless you try to pay your taxes with it.

Can a credit card company report your debt to IRS if you don%26#039;t pay?

ask lawyer. their first visit is usually free.