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2. Cancellation-of-debt income - Wikipedia

   en.wikipedia.org/wiki/Cancellation-of-debt_income

   Failure to file Form 1099-C may subject the taxpayer to civil penalties, but such penalties are relatively minor, [8] and rarely exceed $150.00 per form. There is no exemption from the filing requirement if canceled debt in excess of $600.00 is recognized. One exception to the requirement to file 1099-C is when a student loan has been ...

3. Form 1099 - Wikipedia

   en.wikipedia.org/wiki/Form_1099

   For a variety of reasons some Form 1099 reports may include amounts that are not actually taxable to the payee. A typical example is Form 1099-S for reporting proceeds (not gain) from real estate transactions. The Form 1099-S preparer will report the sales proceeds without regard to the amount of the taxpayer's "basis" in the real estate sold.

4. Missed adding a 1099 to your tax return? Here’s what could ...

   www.aol.com/missed-adding-1099-tax-return...

   Keep in mind that you are still responsible for reporting 1099 income whether you receive the form or not. That’s why it’s a good idea to keep a running log of all 1099 income throughout the ...

5. 2008 financial crisis - Wikipedia

   en.wikipedia.org/wiki/2008_financial_crisis

   The basic CDS transaction involved AIG receiving a premium in exchange for a promise to pay money to party A in the event party B defaulted. However, AIG did not have the financial strength to support its many CDS commitments as the crisis progressed and was taken over by the government in September 2008.

6. Why not let AIG fail? Can 'systemic risk' be a scare tactic?

   www.aol.com/2009/03/03/why-not-let-aig-fail-can...

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7. More taxpayer bucks to bail out AIG, $61 billion loser - AOL

   www.aol.com/news/2009-03-02-180-billion-in...

   American International Group (NYSE: AIG) just got $30 billion more of our money over the weekend. There were no pesky Congress members debating whether to give it our billions -- just a feverish ...