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Revision as of 01:59, 5 September 2026
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Unfortunately, no lender (including the SBA) has the ability to do such one thing. Just like your employer ought to be needed to send a W-2 to you every year, a lender is required to send 1099 forms to any or all borrowers which debt pardoned. That said, just because lenders must be present to send 1099s does not that you personally automatically will get hit along with a huge tax bill. Why? In most cases, the borrower can be a corporate entity, and tend to be just a personal guarantor.
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