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A Company I Did Sub-work For Has Not Issued Me My 1099

 
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Old 02-03-2018, 09:51 AM   #1
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A Company I Did Sub-work For Has Not Issued Me My 1099


I know that companies/employers are supposed to issue W-2's and 1099 forms by Jan 31st.

Last year I did quite a bit of sub work for one outfit and they have not yet sent me my 1099. I emailed the guy and he said he'd get them out asap. I told him their supposed to be in my hand by the end of the month and he said he''d get right on it.

I'm pretty sure the doosh will send it to me but is there any laws or penalties for him sending them out late ? I did a google and could not find anything. yeah, I know maybe I'm a bit too impatient and it's only 3-4 days overdo but I'm just wondering about laws/penalties.

Last edited by kirkdc; 02-03-2018 at 11:37 AM.
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Old 02-03-2018, 09:58 AM   #2
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


Laws/penalties? Don't want to work for him anymore?

Yeah, they're supposed to be sent to taxpayer by 1/31. Sic the IRS on him.

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Old 02-03-2018, 10:06 AM   #3
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Originally Posted by kirkdc View Post
I know that companies/employers are supposed to issue W-2's and 1099 forms by Jan 31st.

Last year I did quite a bit of sub work for one outfit and they have not yet sent me my 1099. I emailed the guy and he said he'd get them out asap. I told him their supposed to be in my hand by the end of the month and he said he''d get right on it.

I'm pretty sure the doosh will send it to me but is there any laws or penalties for him sending them out late ? I did a google and could find anything. yeah, I know maybe I'm a bit too impatient and it's only 3-4 days overdo but I'm just wondering about laws/penalties.
Over the years I have had that happen quite a bit from builders. It is my understanding that is pretty much on them. As long as you claim the income on your taxes your are good. As far as I know you don't have to have it from them to do your taxes.

I had a deal once where IRS messed up and some how added some zeros to what was on the 1099, surprising right, saying I owed this big amount of money to the, but my accountant was able to show them on the 109 that they where in error, that was a time when it was good to have the 1099.
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Old 02-03-2018, 10:41 AM   #4
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


My understanding is that it needs to be postmarked by the 31st.
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Old 02-03-2018, 11:26 AM   #5
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


Why do you really care?

1099 is just an information return that you do not include (the actual paper) with your filing. To you it's just a number to add to your receipts, which you should already have a record of.

If you are incorporated, they don't need to send you one.

As a 1099 payer, non compliance is subject to a $50 fine, if it was ever to be assessed by Uncle Sam

And, IIRC, 1099 are not due until Feb 15 or possibly even the end of Feb
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Old 02-03-2018, 11:37 AM   #6
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Originally Posted by Mr Latone View Post
Why do you really care?

1099 is just an information return that you do not include (the actual paper) with your filing. To you it's just a number to add to your receipts, which you should already have a record of.

If you are incorporated, they don't need to send you one.

As a 1099 payer, non compliance is subject to a $50 fine, if it was ever to be assessed by Uncle Sam

And, IIRC, 1099 are not due until Feb 15 or possibly even the end of Feb
2016 it changed to the same date as W-2's, postmarked by 1/31.

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Old 02-03-2018, 11:45 AM   #7
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Laws/penalties? Don't want to work for him anymore?

Yeah, they're supposed to be sent to taxpayer by 1/31. Sic the IRS on him.
Nope, I don't want to work for him anymore and I no longer take any work from him. I did work for him from last Feb to April. He was pretty good paying me in the beginning but then he started lagging on cutting me a check. It started becoming a PITA to collect from the bum. I found out he was doing this to other guys as well.

Why do I care ? Why do I want my 1099 ? So I know EXACTLY what he sends to the IRS matches what I know I've received.

IMO, everyone should be cautious in this regard. You collect 10k from an outfit and then he sends in a 1099 for 20k. You then have to prove you're right and if he gets caught (or even questioned) he claimes it was a typo.

Years back I had a clown send in a bogus number on my 1099 (which I never received)...which I'm almost positive he altered it purposely and to his advantage. At the time I didn't think it was a big deal because I had my own records. WRONG. It took some work to clear things up with Uncle Scam.

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Old 02-03-2018, 04:13 PM   #8
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


Mailed by 1/31 to LLC's & sole props (if over $600) however one can apply for an extension due to issues coming up making it impossible to get them out on time

Beyond that who cares, you should have good enough records
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Old 02-03-2018, 04:24 PM   #9
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Nope, I don't want to work for him anymore and I no longer take any work from him. I did work for him from last Feb to April. He was pretty good paying me in the beginning but then he started lagging on cutting me a check. It started becoming a PITA to collect from the bum. I found out he was doing this to other guys as well.

Why do I care ? Why do I want my 1099 ? So I know EXACTLY what he sends to the IRS matches what I know I've received.

IMO, everyone should be cautious in this regard. You collect 10k from an outfit and then he sends in a 1099 for 20k. You then have to prove you're right and if he gets caught (or even questioned) he claimes it was a typo.

Years back I had a clown send in a bogus number on my 1099 (which I never received)...which I'm almost positive he altered it purposely and to his advantage. At the time I didn't think it was a big deal because I had my own records. WRONG. It took some work to clear things up with Uncle Scam.
One thing I do is make a photo copy of every check I deposit. That way it backs up what the bank shows I deposited and what I receive from builder/customer.
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Old 02-03-2018, 06:00 PM   #10
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


Dafuq?

Heck, I've got GCs who won't get around to mailing them out for another 2 weeks. I may see a few straggle in in early March.

If you know the numbers that will be on them (and you should), just claim it as income and file away.
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Old 02-03-2018, 07:51 PM   #11
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


I am still waiting on some due 5 years ago.
Just claim what you put in the bank and be happy. Second have a CPA do your taxes and the IRS will be happy. They trust them to do it right.
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Old 02-03-2018, 08:33 PM   #12
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Originally Posted by kirkdc View Post
Nope, I don't want to work for him anymore and I no longer take any work from him. I did work for him from last Feb to April. He was pretty good paying me in the beginning but then he started lagging on cutting me a check. It started becoming a PITA to collect from the bum. I found out he was doing this to other guys as well.

Why do I care ? Why do I want my 1099 ? So I know EXACTLY what he sends to the IRS matches what I know I've received.

IMO, everyone should be cautious in this regard. You collect 10k from an outfit and then he sends in a 1099 for 20k. You then have to prove you're right and if he gets caught (or even questioned) he claimes it was a typo.

Years back I had a clown send in a bogus number on my 1099 (which I never received)...which I'm almost positive he altered it purposely and to his advantage. At the time I didn't think it was a big deal because I had my own records. WRONG. It took some work to clear things up with Uncle Scam.
You've got time to file... I wouldn't worry too much about it... just sounds like he's like most small operators and paperwork isn't his strong suit...

But keep in mind, it's on him to reconcile his 1099's when he files, the same way it's on you to prove your income... even if he paid you in cash and tried to pull a fast one, he'd have to provide proof he paid you in cash (i.e. - invoice, receipt, etc.)...

Just tell him you've got an upcoming meeting with your accountant (which I assume you do) and give him a drop-dead date to provide it by...

Even if he doesn't send you one or goes out of business, go ahead and file the income you have on record from him and let him know the amount you claimed... heck, might even make it easier to get the 1099 from him...

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Old 02-04-2018, 12:00 AM   #13
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


F the IRS
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Old 02-04-2018, 03:06 AM   #14
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F the IRS
IRS = Infernal Ripoff System.
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Old 02-04-2018, 09:26 AM   #15
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F the IRS
yep thats what I said, until I got nipped by them. Now I pay off the mafia thieves to keep them off my azz.
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Old 02-04-2018, 10:32 AM   #16
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


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Over the years I have had that happen quite a bit from builders. It is my understanding that is pretty much on them. As long as you claim the income on your taxes your are good. As far as I know you don't have to have it from them to do your taxes.

.
That's how my accountant explained it to me. Don't sweat the small stuff.
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Old 02-04-2018, 10:43 AM   #17
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


My accountant filed extensions for 1099's just in case. Some of our employees did not fill out their W9's on time for payments outside of salaries. As it was, everything got taken care of on time though.
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Old 02-05-2018, 08:10 PM   #18
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


Yeah, I don't understand the purpose of 1099's anyway...you got paid and claim the income, you're good to go. The funny thing is that I do work for other contractors and individuals...I've gotten 1099's from a couple non-profits I worked for this year, but not another contractor that I did way more work from. I run every penny I get through my business checking account, so I couldn't care less I didn't get it...at the end of the day it all comes down to claiming income and expenses properly and everyone ends up happy. That said, sending out 1099's seems strange too, I'm gonna tell LLC's and Sole Proprietors that I paid them, and tell the IRS I paid them, but I'm not sure that number goes anywhere else anyway, yeah?
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Old 02-05-2018, 08:20 PM   #19
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


I just like to make sure that my numbers match in comparision to what they turn in. That's all.

When they don't jive, it raises the risk of an audit.
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Old 02-05-2018, 08:27 PM   #20
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Re: A Company I Did Sub-work For Has Not Issued Me My 1099


IMO I think the only time it really rise questions is when A 1099 get sent in and for some reason it ends up making your income higher then what you show. I don't believe the IRS tries to match everything up unless there is a problem staring them in the face.

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