Posted by Barbara___IL on 1/31/13 3:54pm
Msg #453307

1099s

Is today the last day we are supposed to receive our 1099s? I remember hearing it's changed to February 15, but I'm not sure.

Reply by Linda_H/FL on 1/31/13 4:03pm
Msg #453308

No..1099's have to be *mailed* by today n/m

Reply by Barbara___IL on 1/31/13 4:15pm
Msg #453310

Re: No..1099's have to be *mailed* by today

Thank you!

Reply by TacomaBoy on 1/31/13 4:54pm
Msg #453317

No..1099's From Hiring Clients?

OK! So, we all have biz with lots of different hiring clients, most of whom DO NOT provide 1099's as provided by IRS guidelines. Q. I assume the clients have some sort of legal liability when they do not issue their 1099 to us, but does the Independent contractor have any legal liability. I report all of my income regardless of 1099's, so I'm not too worried about this sort of thing. How about you other NotRotters?

Reply by MW/VA on 1/31/13 5:02pm
Msg #453320

Ditto. File the 1099's but don't list them individually

when I'm doing my taxes. I use TurboTax and it's a PIA to input every form. Good for those who want the program to do all the math though.

Reply by MB_AZ on 1/31/13 5:28pm
Msg #453326

Re: Ditto. File the 1099's but don't list them individually

The ones I don't get 1099's from I group into 'total income' for signings. All records including expense receipts are kept for 7 years.

Reply by Carolyn Bodley on 2/1/13 7:49am
Msg #453395

Personal tax records should be kept 7 years ...

business records should be kept indefinitely

Reply by MB_AZ on 2/7/13 12:22pm
Msg #454543

Re: Personal tax records should be kept 7 years ...

You are incorrect. You may want to review the IRS guidelines.

http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/How-long-should-I-keep-records%3F

Reply by MikeC/TX on 1/31/13 6:42pm
Msg #453338

Re: No..1099's From Hiring Clients?

They don't have to file a 1099 unless the total they paid you exceeds $600. I'm pretty sure the IC has no liability if the client doesn't file a 1099 that was required; I'm not an an accountant, but it makes no sense to me why they WOULDN'T file one in that case.

Just report what your records say you earned. In most cases, that number will be higher than the total of the 1099's you received; the smaller ones that don't issue a 1099 should offset the ones that over-report because they cut the check in December but you didn't receive it until January.

All I ever did with the 1099's I received was make sure they totaled less than what my records showed I earned. Then I ignored them and reported income based on my records. The IRS is not going to be unhappy if you tell them you took in more money than was reported to them (and they probably expect it - any IC whose reported income matches the 1099's filed is probably going to raise a red flag...).

Reply by Negrete on 1/31/13 5:24pm
Msg #453325

Found this link in the IRS pages. And I will state from our company standpoint that we 1099 anyone that has done work for us throughtout the year, ( ie:$10.00 to $5000.00 ) we do send a 1099 and report it to the IRS. CYA according to my accountant.

And on another note, this is not a new low for Negrete's Notary service, like someone alse had stated in the thread, just us staying in biz, or would you rather get calls from the likes of companies that pay lower or not at all, or from us.

Looks to me as though the hiring entity has untill 2-15-13 this year.

http://www.1099services.com/1099-filing-deadlines.htm

Anthony J Negrete

Reply by PegiT_MN on 1/31/13 5:47pm
Msg #453330

Thank you for that information Tony. Everyone keeps saying January 31st, but I've always remembered 1099-MISC forms having until February 15th to be sent out.

Reply by Barbara___IL on 1/31/13 6:18pm
Msg #453333

Thank you!

Reply by kmo on 1/31/13 7:09pm
Msg #453345

Feb 15th deadline is ONLY for 1099 Misc that are reporting in boxes 8 and 14 ONLY. All others like most I have already received are checked in box 7. So all 1099 Misc that does not have boxes 8 or 14 checked must be sent out by today. That is what the link states, and that is what was in yesterdays paper.

Reply by SOCAL/CA on 1/31/13 11:44pm
Msg #453387

Negrete's new low

$85.00 is a lowball fee.

Reply by bfnotary on 2/1/13 12:03pm
Msg #453434

Re: Negrete's new low

I was never offered 85 by negrete's

Reply by Barb25 on 2/1/13 12:36pm
Msg #453437

Is this a new box on the 1099? n/m