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Re: I think I am OK
Posted by MikeC/TX of TX on 4/13/18 4:36pm Msg #592207
It sounds like you should be OK, as long as you're not relying solely on the 1099s. I always used them as a reference that I could crosscheck against my records, but the number I reported was the actual income I received.

There are penalties for the company that fails to send out a 1099 on time, depending on how late they are:

http://smallbusiness.chron.com/happens-1099s-late-17332.html

As far as how to report them to the IRS:

http://pocketsense.com/report-late-1099-irs-6470982.html

The company that sent an incorrect (overstated) 1099 may have just fallen into that year-end situation of when they cut the check and when you received it, since it's not income for you until you actually have it in your hands. Unless your records show that the amount they reported is vastly greater than what you received from them plus what they still owe you for work done last year, you might consider contacting the IRS.

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Messages in this Thread
 Late 1099 - Roadie_MD on 4/12/18 6:41am
 Re: Late 1099 - BearPaw/CO on 4/12/18 12:34pm
 Answer may not be what you think - Bear900/CA on 4/12/18 12:46pm
 I am assuming you have already included the income in - ananotary on 4/12/18 1:39pm
 Agree with ananotary. -  JanetK_CA on 4/12/18 4:09pm
 Agree with ananotary and JanetK - MikeC/TX on 4/12/18 4:47pm
 I think I am OK - Roadie_MD on 4/12/18 4:53pm
 Re: I think I am OK - MikeC/TX on 4/13/18 4:36pm
 Re: Agree with ananotary and JanetK - BearPaw/CO on 4/12/18 6:50pm
 My CPA lists every 1099 that I receive and includes dollar - grapebed on 4/12/18 9:09pm
 Grape, I’m curious where on your return? Separate statement? -  sigtogo/OR on 4/12/18 10:33pm
 Re: Agree with ananotary and JanetK - MikeC/TX on 4/13/18 4:10pm
 I don't even pay attention to the 1099's, and don't list -  MW/VA on 4/12/18 8:30pm



 
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