Am I liable to pay debt if I’ve moved out of US?
Date: Thu, 08/11/2016 - 22:47
Am I liable to pay debt if I’ve moved out of US?
RE: liable to pay debt if I’ve moved out of US
If you're moving outside of the country without paying your debts, it may go into collections or eventually your due balances will be written off. As a result, the creditors will file a 1099-C form with the IRS reporting unpaid debts of $600 or more as “income". The IRS will then ask you to pay taxes on that “income”. So, you may save yourself for now, but later you must have to face the consequences.
If later you need to come back in U.S again, you’ll be in far worse condition than you were before you left.
If you have IRS tax debt,
If you have IRS tax debt, then you have to pay expat tax if you've moved out of US. You can pay your taxes through Streamlined Filing Procedure.
Where are you two coming up
Where are you two coming up with such crap?? Do either of you speak or read English??? Why on earth would they send a 1099 to someone who lives outside the country and probably wont file taxes.
Poster....if your balance is low, they may not even pursue you. If your balance is large, they could resort to international collections. Debts can and are collected world wide.