Taxes on a Credit card settlement, what happens if I didn't file it?

  • Thread starter Thread starter Ben's Girl
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Ben's Girl

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I filed my taxes in late February. In Mid-March I received a Tax form from a CC company that I settled with last year. They wrote off about $2,000, but most of that was fees imposed by them (I'm sure that doesn't matter).

I filed the paper away, but now my dad says his friend has the IRS on her butt because she didn't claim her [multiple] settlements on her taxes a few years ago.

How do I handle this? I had no idea I had to file something for it, and the letter came SOOOOO late in the mail.

Can I file with next years taxes? Should I ammend and pay what I owe? Do nothing and wait until they come pounding for fees and interest and fight it???? How does this work?
 
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