Posted by Elizabeth Soliday on 1/23/07 5:28pm
Msg #172233

Is there a deadline for 1099s?

I haven't received a single one yet. It is my first year as a signing agent and I usually do my own taxes.

Reply by ZeeCA on 1/23/07 5:35pm
Msg #172236

no, according to the IRS they are a courtesy to the contractor and mandotory to the IRS. The IRS' position is that the contractor is to maintain records.

you are "supposed" to receive a 1099 by Jan 31 if you earned income that requires a 1099 be sent.

Reply by Rhonda Skansi on 1/23/07 5:43pm
Msg #172239

somebody told me.....

it should be by January 31st, but they actually have until March 31st. Don't know if that is true, however. I googled 'deadline for 1099' and saw both dates, but not real clear to me.

Reply by ck_KY on 1/23/07 5:44pm
Msg #172240

Is it possible to file without it if..

you have kept excellent records?

Reply by TonyV on 1/23/07 9:30pm
Msg #172320

YES on Schedule C Re: Is it possible to file without it if..

If you are self-employed as a sole proprietor or independent contractor use Schedule C or C-EZ (Form 1040) to figure your earnings subject to SE tax. For information about figuring earnings on Schedule C or C-EZ, see Publication 334.

The 1099 is just the form companies use report payments to contractors. Their regular employees get W-2 forms. if you do not receive them, still claim your income in schedule C; a matter of integrity.

Tony Velasquez
http://www.vipmobilenotaries.com

Reply by Margaret_FL on 1/23/07 5:46pm
Msg #172242

Re: somebody told me.....

I used to be a payroll clerk and I was told by the IRS that Jan 31 was the deadline but if you reported an employer they had another 30 days from 1/31 to get your W2 to you.

Reply by ZeeCA on 1/23/07 5:51pm
Msg #172247

Re: somebody told me..... yes w2 are mandatory but not 1099s n/m

Reply by Margaret_FL on 1/23/07 5:51pm
Msg #172248

Re: somebody told me.....

Good records is key. Last year I had one company send me a 1099 for $10,000 more than I had record of. When I asked for a breakdown of invoices, they could not give it to me, so they corrected to my figures. What kind of records are they keeping. I use Quicken for every invoice and record every payment and reconcile to my bank statements exactly.

Reply by Margaret_FL on 1/23/07 5:53pm
Msg #172250

Re: somebody told me.....

Forgot to add, you are also to report income that you do not get 1099's for. If you made 600 or more with one company you should get a 1099, under 600 they do not have to send a 1099 but you have to report

Reply by ck_KY on 1/23/07 5:56pm
Msg #172252

Maybe John NoCAL can answer these questions .... n/m

Reply by ck_KY on 1/23/07 5:57pm
Msg #172253

Should be John NorCal, sorry! n/m

Reply by Kate/CA on 1/23/07 6:01pm
Msg #172255

Yes, but the SS don't know it, gotten them in March. n/m

Reply by PAW on 1/23/07 9:37pm
Msg #172323

IRS Publication (http://www.irs.gov/pub/irs-pdf/f1099msc.pdf) states:

Due dates.

Furnish Copy B of this form to the recipient by January 31, 2007.

File Copy A of this form with the IRS by February 28, 2007. If you file electronically, the due date is
April 2, 2007.

Reply by Elizabeth Soliday on 1/23/07 10:15pm
Msg #172329

Thanks, I guess I will just file with my figures. n/m

Reply by Susan Fischer on 1/23/07 10:55pm
Msg #172332

Elizabeth, why not just wait for 04/15/07? Extensions

are easy, and if you think you owe? Just send that amount with your extension.

You *have* saving for potential taxes, haven't you?

Which, begs the question: how many of us actually budget?