Greenguy's Board - Is it premature to call out sponsors who haven't yet sent out 1099s?

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Is it premature to call out sponsors who haven't yet sent out 1099s?

I'm really tired of hounding these guys, but my taxes are done and ready to go. You're a corporation, so show some due diligence.
|banghead|

1 - yes, you can call them out. You could have started to call them out 5 weeks ago as they were supposed to be sent out by Jan 31st.

2 - you should really be keeping track of all your income on your own. If I went by 1099's when I did my taxes, the gov't would be wondering why my bank account shows me making 10x's the money I claimed on my taxes.

(not to mention that only US companies send out 1099's & you do have to claim the income that you get in from non-US programs)

Quote:

Originally Posted by Greenie (Post 338020)

1 - yes, you can call them out. You could have started to call them out 5 weeks ago as they were supposed to be sent out by Jan 31st.

I always try to be discreet and patient, but enough is enough. I've seen way to many people jump the gun by going to the boards before trying to handle the situation behind the scenes

Quote:

Originally Posted by Greenie (Post 338020)

2 - you should really be keeping track of all your income on your own. If I went by 1099's when I did my taxes, the gov't would be wondering why my bank account shows me making 10x's the money I claimed on my taxes.

(not to mention that only US companies send out 1099's & you do have to claim the income that you get in from non-US programs)

I definitely keep track of all the income. Now here's a senario. I decide to file using the income that I know from sponsor A. Sponsor A turns around and files a 1099-misc on my behalf afterwards. Problem is sponsor A uses a different corporate name (seen that before) and the income isn't the same (seen that before), income is for ppd Dec 16 thru Dec 31, but the check is cut in January. So, I get a red flag audit.

I rec'd twice as many 1099's this year. I got two. Last year I only rec'd one.

I read somewhere a few weeks ago that because of changes in tax laws, quite a few companies have filed extensions for sending 1099s. I have no idea if this has an effect on this business or not.

Quote:

Originally Posted by nibbler (Post 338023)

....I definitely keep track of all the income. Now here's a senario. I decide to file using the income that I know from sponsor A. Sponsor A turns around and files a 1099-misc on my behalf afterwards. Problem is sponsor A uses a different corporate name (seen that before) and the income isn't the same (seen that before), income is for ppd Dec 16 thru Dec 31, but the check is cut in January. So, I get a red flag audit.

I've complained about errors on them to sponsors in the past (requested corrected forms as well - and most sent them) but the numbers thing - unless their total is really off from your totals - odds are that your total actual income will always be higher than the totals that are reported on 1099's.

I guess that would have been my reasoning for not worrying about it as well - you report your total income - not the separate income from each company so the IRS wouldnt have a listing of what you made from each company from you - of course you could just go the route of forming your own company(or partnership or LLC etc) for $25 and then you dont have to worry about 1099s at all :)