- 4 - assessment of the facts and circumstances surrounding the likelihood of repayment. Id. “Any ‘identifiable event’ which fixes the loss with certainty may be taken into consideration.” Id. at 445 (quoting United States v. White Dental Manufacturing Co., 274 U.S. 398, 401 (1927)). Petitioners argue that petitioner was unaware of the credit card debt, and that he does not know when, if ever, the debt was discharged. Respondent primarily relies on the Form 1099-C issued to petitioners by the credit card company. Respondent was unable to produce a copy of the Form 1099-C sent to petitioners, and petitioners allegedly never received a copy due to petitioner’s and petitioner’s mother’s changes in address around the relevant time frame. Evidence in the record mainly serves to corroborate the issuance of the Form 1099-C and does nothing to independently establish that petitioner’s debt was discharged, or the date of such a discharge. Indeed, it is not clear whether the debt was ever discharged. According to the credit card company’s records, the debt remained listed on petitioner’s account at least through September 2001. Although the company issued a Form 1099-C to petitioner, there was no indication in the record how the company determined that the debt had been discharged in 1998, or even if it ever made such a determination: The company merely stated that a Form 1099-C was sent to petitioner. More importantly,Page: Previous 1 2 3 4 5 6 Next
Last modified: May 25, 2011