Posted by mtnotary on 3/29/10 11:56am
Msg #329430

Help please double 1099s

I am now getting around to doing my taxes..I know a little late in the season but when you owe it takes a rainy day to get you in the mood to do taxes.

Anyways, I recieved 2 1099 Misc from LSI...same exact figures
and 2 1099 Misc from Lender Processing Services..same exact figures.

I remember awhile back reading that people were wondering who Lender Processing Services were. I have no doubt now that they are LSI.

The thing that I wonder is why was I sent a total of 4 1099 Miscs for what should have only been 2 1099s.

Anyone else recieve duplicate 1099s? I hope that they didn't send them to the Government like that or it could cause a huge wave.

Any suggestions?

Reply by PAW on 3/29/10 12:26pm
Msg #329433

Check to be sure the second one isn't marked CORRECTION. Getting duplicate 1099's is not a big deal. Actually, I don't even look at them, as I report my income from MY records. My income reporting may be different than that used by the company sending me their 1099, so I expect a discrepancy between the two.

I doubt that sending duplicate 1099 information to the IRS will cause any "huge waves". It may cause a ripple or two, but it is easily explained away.

Reply by jba/fl on 3/29/10 1:28pm
Msg #329448

I'm wondering if the employer ID number is the same or not.

Reply by MW/VA on 3/29/10 1:56pm
Msg #329454

"When you owe, it takes a rainy day to get you in the mood

to do taxes." Many people are not aware that you can do you taxes anytime, including e-filing with Turbo Tax or other software, and not send in your payment until April 15th. As a former tax preparer, I understand the "putting off the dreaded tax filing" thing, but I'd personally rather know how much I owe before the 11th hour.
I agree with PAW, I don't pay much attention to the 1099's anymore, and report income from my records.

Reply by mtnotary on 3/29/10 2:27pm
Msg #329459

The correct box was not checked and Service Link did the same thing. Makes me wonder who is doing their accounting.
All of the information was a double but it was mailed in two different envelopes for all 3 companies.

Oh well I usually don't go by the 1099s either but by my Quickbook information. I just thought it was odd as I had never seen duplicates before.

Reply by CopperheadVA on 3/29/10 2:29pm
Msg #329461

I seem to remember reading that others had received duplicates.

Reply by John_NorCal on 3/30/10 8:54am
Msg #329543

Not a big deal....

For the people who still paper file, having 2 1099's makes sense. 1 for the fed and one for the state. When I prepare 1099's for clients I usually give them 2 for each contractor.