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FIA Card Services / IRS reporting

MI, United States Review updated:
3.35
In 05 I settled with FIA Card Services on a card balance. The agreement was that I would pay the principal off on a card. The interest would be waived. Great! I paid it. Nothing more until now-- I just got a letter from the IRS that FIA Card Services sent them a notification that I have an increase in income to the tune of over $1600... Now my taxes for 06 have been recalculated and I have back taxes and interest to pay. The total is more than I owed in the first place...
If I owe taxes for 'cancellation of debt', fine, but I should have been told this would be reported and at the very least get a 1099...
Lo
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Su
  27th of May, 2009
Agree Disagree 0 Votes
I just found out that mbna bank now FIA card services has put a interest fee on my 07 IRS without telling me and I paid them off in 05 I do not have $800 for a debt I have already paid off

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