Greetings! I really want to fill this out correctly to avoid corrections fees, so I’ve held out on filing my 1099A online. Please advise.
Can the 1099A be filled out online (since hard copies are on back order) and write in the amount charged to be roughly what you have paid on the credit card in the past for the entire year? This would put a year’s credit on the card and free up 11 months of paperwork. So, if you average $2,000 per month on that credit card, write it for $24,000. Is this a thing? I DO NOT want to commit trust fraud, bottom line. But, since you are allowed to do this for revolving credit type utility bills, are you allowed to do this on credit cards for monthly food service orders, gasoline payment, personal goods and services purchased monthly?
And, since it’s filled out online, how do you get a wet signature added once my 1099A comes in?
Also, although I know CH says to always put the Treasury as the lender, the Jarrets have had success in filling it out with yourself as the lender and putting the borrower as the company you’re paying the debt off to (credit card company, mortgage company). And, this is MOST important, *only check box 5 in this scenario* (Check if the borrower is personally responsible for repayment of the debt).
So, with this alternate lender method in mind, my next question is: Do you put the company name or the c/o CEO of the Company Name? ex. John Doe, CEO of Credit Card Company Name
Am I correct in thinking the CEO‘s Strawman would be responsible for the company, therefore would be directly billed?
I also want to write a Conditional Acceptance letter to the CEO, addressing my unpaid coupons and asking, once again that he accepts my coupons for all future payments, rather than cashing or shredding them, resulting in my online filed 1099A. Is this acceptable and reasonable? Or should I just file a 1099A each year for about what my yearly credit card would be?
Then for paying off my mortgage, could I write in the original mortgage amount or do I need to put in the current payoff amount? And, for mortgage, do I need to wait till the hard copies come in or is it ok to fill that one out online also?
Please tap the star ⭐️ next to my question if this also applies to you and you would like to know the answer. This will get Chris Hauser’s attention and get a more personal answer from him. Thanks!
🙏🏼 Best wishes to all on a speedy debt remedy!🙏🏼
@Desiree what do you mean by approved?
Jacob. I do not see who you are asking that question so for the conversation it pertains to.
Jacob - When the 1099A s approved by the Treasury, that is when the 1099B copy is sent, correct? Then that signals the 1099OID and 1040v can be sent. Right?
Type: Suspicious Transactions
Subject: Fictitious Sight Drafts
TO: Chief Executive Officers of all National Banks; all State
Banking Authorities; Chairman, Board of Governors of the
Federal Reserve System; Chairman, Federal Deposit Insurance
Corporation; Conference of State Bank Supervisors; Deputy
Comptrollers (Districts); Assistant Deputy Comptrollers;
District Counsel and Examining Personnel.
RE: Fictitious Sight Drafts payable through the U. S.
It has been brought to our attention that certain individuals
have been making and executing worthless paper documents which
are titled "Sight Draft" (copy attached). These items state that
they are payable through the U. S. Treasury, 1500 Pennsylvania
Avenue, NW, Washington, DC 20220. These instruments are being
presented for payment at banks and other businesses throughout
the United States. They have no financial value and no legal
The documents have the following characteristics: (1) a statement
printed on them--THIS DOCUMENT HAS A COLORED BACKGROUND &
MICROPRINTING. THE REVERSE SIDE OF THIS DOCUMENT HAS AN
ARTIFICIAL WATERMARK; (2) the numbers encoded in the MICR style
print along the bottom edge are not valid ABA routing numbers nor
any other recognizable type of number used in the financial
community to process or identify the item; (3) the person signing
the document is not authorized by the U. S. Treasury to issue
such documents. Any of these instruments that are presented to
the U. S. Treasury for payment will be returned to the sender and
copies will be provided to the appropriate law enforcement
If one of these instruments is presented to your institution for
payment, or if you have any information concerning this matter,
you should immediately bring it to the attention of your local
office of the Federal Bureau of Investigation and
Office of the Comptroller of the Currency
Enforcement & Compliance Division
250 E Street, SW
Washington, D.C. 202l9
(202) 874-4800 Fax (202) 874-5301.
Your institution should also prepare a Suspicious Activity
Report, in accordance with 12 CFR 21.11. Under no circumstances
should your institution honor one of these instruments or submit
it for payment.
Daniel P. Stipano
Enforcement & Compliance Division