I did my tax return a week ago and today a 1099-c was in the mail which i did not report?

Well a week ago i did my taxes then yesterday a 1099-c(cancelation of debt) came in the mail and it is in the amount of 1000$. I was just wondering can i still report it or is it too late. Can i report this next year. I do not want to get in trouble with the IRS and be penaltilized. What do i do, thanks!

I did my tax return a week ago and today a 1099-c was in the mail which i did not report?
No, don't wait until next year. You need to amend your return to include this income. It should not make a huge difference in your tax return, but you will likely have to repay a portion of your refund to the IRS. Do so right away--you're right to not want to get into any trouble with the IRS. You need a copy of your return already filed in order to make the amended return. Your preparer will have your return in their computers. Expect to pay $50-100 for an amendment. You have until 4-15-08 to file your amended return and pay the IRS--DO IT as soon as you receive your refund check.
Reply:You need to file an amended 1040X tax return. Wait a couple of weeks for your original return to be processed and then file it. Or the IRS may catch it first and notify you and then you still just file an 1040X.
Reply:That is why you wait to do your taxes. If you have filed them already you are SOL. And no, you cannot claim it on next years taxes.
Reply:No you can't wait until next year, you will have to amend your 2007 return, the one you just filed, and report it there.
Reply:You should file an ammended return for this year.
Reply:File an amended return ASAP. You're not in trouble--dates show you couldn't file it earlier.