Consumer complaint received 2024-02-17 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Their investigation did not fix an error on your report
Company: CAPITAL ONE FINANCIAL CORPORATION
State: TX

Complaint narrative:
XXXX XXXX. XXXX XXXX XXXX XXXX XXXX 
XXXX XXXX, TX XXXX Acct. Ending in XXXX I am writing to bring to your attention a matter concerning my tax reporting. I have not received Form 1099-C from Capital One for account ending in XXXX and I believe this may indicate potential tax irregularities.

I have not received form 1099-C from Capital One despite anticipating one due to a settlement in place for acct XXXX and it reporting as charged off account to my credit file. I have requested Form 1099c several times through disputes. This has raised concerns regarding the accuracy of tax reporting.

I have reviewed my transcripts through the IRS and there are NO Form 1099-c filed against my name from Capital One. How can this be if Capital One is reporting charged off and states written off under status on the credit report and also having a settlement agreement in place for the account?

I am requesting public and private accounting records for the account in question listed on this complaint. I want to review each accounting event from each of these disputed accounts. I want to refer XXXX to case Pacific Concrete F.C.U. v. Kauanoe and the ruling on what is recognized as proper accounting documentation. So no I will not be accepting billing statements. 

Due to this account reporting to my credit file as charged off and my request for Form 1099-c being ignored and unfulfilled I have filed form 3949a online to the IRS with many documents supporting potential tax fraud by the company. I want to assist in ensuring the integrity of the tax system. I believe there might be discrepancies that warrant further investigation. Case reference number XXXX. 

The disputed account has a settlement in place and the remaining balance has been deem uncollectible due to the agreement. The disputed account is past the statute of limitations. There are court cases that have ruled it is inequitable to continue to report to a credit report after these actions have taken place. 

Franklin Credit Mgmt Corp vs Nicholas, 2001 it would be inequitable to require that ( Defendant ) report the discharge of debt as income on his federal tax return or face the potential tax consequences and hold that the plaintiff may continue to hold him liable on the debt Discover Bank vs Shimer, 36 Misc 3d 1214 ( a ) holding that it is inequitable to allow a creditor to belatedly enforce the alleged debt after it received the tax benefit of the charge off Amtrust Bank vs Fossett, 223 Ariz 438 ( issuance of form 1099c after debt was written off is " Prima Facie evidence '' that debt had been discharged by creditor, sufficient to create an issue of fact So to recap I have submitted form 3949a to the IRS with documents that support potential tax fraud. Also, Due to the account still reporting to my credit file after repeated disputes pointing out violations of the law and making capital one aware of actual case law that backs the deletion of this account, I am ready to litigate this account before the courts. 

XXXX XXXX. XXXX

Company response to consumer: Closed with explanation