Do You Have Missing or Inaccurate 1099 Information?
If you receive certain types of income, you may get a Form 1099 for use with your federal tax return. Form 1099 is an information return provided by the payer of the income. The payer should have sent or provided your Form 1099-series information returns by January 31, 2014.
If you have not received an expected Form 1099 by a few days after that, contact the payer. If you still do not receive the form by February 15th, call the IRS for assistance at 800-829-1040.
In some cases, you may obtain the information that would be on the Form 1099 from other sources. For example, your bank may put a summary of the interest paid during the year on the December or January statement for your savings or checking account. If you are able to get the accurate information needed to complete your tax return, you do not have to wait for the Form 1099 to arrive.
You will not usually attach a 1099-series form to your return, except when you receive a Form 1099-R that shows income tax withheld. You should keep a copy of all the 1099s that you receive with your tax records for the year. There are several different forms in this series, including:
- Form 1099-B, Proceeds From Broker and Barter Exchange Transactions
- Form 1099-DIV, Dividends and Distributions
- Form 1099-INT, Interest Income
- Form 1099-MISC, Miscellaneous Income
- Form 1099-OID, Original Issue Discount
- Form 1099-R, Distributions from Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.
- Form SSA-1099, So0cial Security Benefit Statement
See more information here.
Information from the IRS site regarding inaccurate 1099 information:
Employers/payers have until January 31 to issue certain informational documents. If you do not receive your Form W-2 or Form 1099-R by January 31, or your information is incorrect on these forms, contact your employer/payer.
If you do not receive the missing or corrected form by February 14 from your employer/payer, you may call the IRS at 800-829-1040 for assistance. You must provide your name, address (including zip code), phone number, Social Security Number, dates of employment,your employer/payer’s name, address (including zip code), and phone number. After February 14, the IRS will contact the employer/payer for you and request the missing form. IRS will also send you a Form 4852 (PDF), Substitute for Form W-2 or Form 1099-R, along with a letter containing instructions.
If you do not receive the missing form in sufficient time to file your tax return timely, you may use the Form 4852 to complete your return. If you receive the missing or corrected Form W-2 or Form 1099-R after you file your return and a correction is needed, use Form 1040X(PDF), Amended U.S. Individual Income Tax Return. For additional information on filing an amended return, refer to Topic 308.
ExpressTaxFilings is an authorized IRS E-File provider and while we do not give tax advice, we do want to make our customers aware of common questions that arise during tax season. Please contact a tax professional for tax advice and questions pertaining to tax laws with regards to the difference between Forms 1099 and W-2s.
For any questions about E-Filing Form 1099 or W-2, contact the Express Tax Support Center in Rock Hill, SC at 704.839.2270 between the hours of 8am – 6pm EST, Monday through Friday or emailsupport@ExpressTaxFilings.com.
