1099 Tax question?
Asked by
rawpixels (
2668
)
February 25th, 2009
If you don’t receive a 1099 before a certain date, are you still obligated to pay tax on it? In other words, if I get a 1099 for work I’ve done on April 1st and I’ve already filed my taxes, what should I do? Is there some sort of deadline for this?
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12 Answers
It was due to you by Jan 31st. As you can see here. I find the IRS website to be very friendly. I would poke around it and see if you can find the answers you want.
Yes, you are still obligated to pay tax on it. You would just need to file an amended return.
@TenaciousDenny
EmpressPixie is correct that a 1099 recipient needs to receive any 1099 before Jan 31st. I’m not sure what happens if you receive one after that date, though.
Yes, she is correct, but if you didn’t get it (maybe it was mailed to the wrong address), you are still required to report the income on your return. If the IRS decides to audit you, they would have a record of this 1099 being issued (assuming that the company did indeed actually create a 1099 for you). I would contact the employer who should have issued it and try to get it sent again.
Haha, you can do what I’ve done a few times: call the IRS. In my experience they are super nice and helpful.
Associated Content has an article on it. It basically says the 1099 makes life easier on you, but you still have to pay the taxes.
But, I don’t want to pay anymore taxes :)
You shouldn’t have told me that. I’m a CPA and I am now required to report you to the proper taxing authorities.
Actually, I think you are now eligible to be nominated into Obama’s cabinet.
@TenaciousDenny
LOL, of course I was only joking, because I’m a law-abiding citizen. But, that cabinet position could be sweet.
Yes you still have to pay taxes on it. Also, I believe they extended the deadline that companies have to send you your 1099 past Jan 31st. I don’t have time to research it for you, but I will when I can, if someone doesn’t find it first :0) What you need to do is file an admendment to your return. If you check the IRS website, they should have the info for you. I hope this helps :0)
@rawpixels, you wrote, ”...a 1099 recipient needs to receive any 1099 before Jan 31st. I’m not sure what happens if you receive one after that date, though.”
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In short, nothing happens. You have until April 15 to file your return or an extension. The two and a half months in between is intended to allow you ample time to do that. That’s all.
If your 1099 shows up after Jan 31 but before you file your return, then great. No harm, no foul. Include the info and file away.
If your 1099 shows up after you file your return, then you’ll need to file an amended return, like @TenaciousDenny suggested.
The 1099 form only includes income info for the previous calendar year (up to Dec. 31). It’s not an up-to-the-minute accounting.
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