CUNA Regulatory Comment Call

June 2, 2008

Review of IRS Form 1099-C

EXECUTIVE SUMMARY

Please feel free to send your comments to CUNA SVP & Deputy General Counsel Mary Dunn at mdunn@cuna.com or to Assistant General Counsel Lilly Thomas at lthomas@cuna.com; or mail them to Lilly c/o CUNA’s Regulatory Advocacy Department, 601 Pennsylvania Avenue, NW, South Building, Suite 600, Washington, D.C. 20004. Click here for a copy of the proposed rule notice and request for comment.

QUESTIONS REGARDING THE FORM

  1. No changes will be made to the form. Are there any changes you would like to see made?
















  2. Do you think Form 1099-C is necessary for verifying whether an individual properly reported a discharged debt?
















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  3. The IRS estimates that it takes ten minutes to complete the form. Do you think the agency’s estimate is accurate?
















  4. What ways, if any, could Form 1099-C be improved?
















Eric Richard • General Counsel • (202) 508-6742 • erichard@cuna.com
Mary Mitchell Dunn • SVP & Deputy General Counsel • (202) 508-6736 • mdunn@cuna.com
Jeffrey Bloch • Assistant General Counsel • (202) 508-6732 • jbloch@cuna.com
Lilly Thomas • Assistant General Counsel • (202) 508-6733 • lthomas@cuna.com
Luke Martone • Senior Regulatory Counsel • (202) 508-6743 • lmartone@cuna.com