When Is Form 1099-C Required of Lenders? [More with McGlinchey, Ep. 16]
The commercial real estate market is in the process of adjusting to lower property valuations. Much recent focus has been on office buildings, and the fallout from enduring reductions in occupancy associated with remote and...more
As a number of debt instruments issued several years ago in a relatively low interest rate environment now have their maturity date approaching in a much higher interest rate environment, borrowers are increasingly seeking to...more
Millennials. Everyone has an opinion, especially us. We are “entitled,” “spoiled,” and “lazy” to some; “diverse,” “educated,” and “confident” to others. Try this: “resilient.” Millennials rode the 90’s boom straight into...more
When debt is forgiven, as much of the funding lent through the CARES Act’s PPP may be, a lender may be required to file IRS Form 1099-C with the IRS and to furnish a copy to the borrower. As a lender, do I need to file the...more
The economic impact of the global COVID-19 pandemic will likely result in a considerable number of borrower defaults, workouts and debt restructurings. An often overlooked but significant consequence of debt modifications or...more