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Chuker
Tennessee Tech Fan
St George, Louisiana
Member since Nov 2015
6956 posts
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What to do if company refuses to send corrected 1099?
I did some work last year as an independent contractor and received a 1099-misc. It was short about 4k. I realized It was incorrect when I was finishing my taxes in April so I just filed for an extension.

I've since asked this company 3 times to send me a corrected version but so far they haven't done shite. Oct 15th is coming up and I'm going to ask them again but I'm wondering what I should do if they fail to send it.

My plan is to just claim the extra $4k as misc income on my schedule C so at least if the gov comes back I can say I claimed the income and hence paid the tax. I mean if uncle sam gets his vic on my income one way or another why do they care if its attributed to a particular 1099?

Thanks


Stingy
LSU Fan
TN
Member since Mar 2014
1303 posts
 Online 

re: What to do if company refuses to send corrected 1099?
They should have also sent the IRS the same 1099, so as long as the amounts are the same what's the problem?

If you do go ahead and claim the extra 4k but the company sends in a 1099 that is the same as your's you should have a credit.


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LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
17364 posts

re: What to do if company refuses to send corrected 1099?
You are required to put on the Schedule C, the amount of gross income you actually received.

The 1099 is a guide, but it is not the only answer. For example, companies are not required to send Form 1099-MISC if the amount paid during the year is less than $600. But you are sure supposed to report that.

IRS isn't going to care if you report more revenue than can be shown on 1099.

It's when you show LESS revenue than reported on a 1099, that the IRS asks questions.


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bobdylan
LSU Fan
Cankton
Member since Aug 2018
231 posts

re: What to do if company refuses to send corrected 1099?
Report the income you received.

If you report as misc income not subject to SE tax, you run the risk of underpaying SE tax.

ETA: I see now you wanted to include on sch c, in which case it will be treated as SE income. Won’t make a difference really but I’d include with gross revenue like Houston said.
This post was edited on 9/19 at 8:05 am


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tigeralum06
LSU Fan
Member since Oct 2007
2019 posts
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re: What to do if company refuses to send corrected 1099?
First person ever to complain about this


tigerpawl
LSU Fan
Can't get there from here.
Member since Dec 2003
14851 posts

re: What to do if company refuses to send corrected 1099?
quote:

First person ever to complain about this

Yes, Virginia. There are still people with honesty and integrity.


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McNeeseLSU
McNeese State Fan
Baton Rouge
Member since Feb 2007
409 posts

re: What to do if company refuses to send corrected 1099?
I see no reason to wait on corrected 1099, unless this is a timing issue and they are reporting that income on next year's 1099.


Ole War Skule
LSU Fan
North Shore
Member since Sep 2003
3044 posts

re: What to do if company refuses to send corrected 1099?
quote:

Yes, Virginia. There are still people with honesty and integrity.


Many, including me, don't think paying taxes means a person has honesty or integrity....

"well, it's the law!"

slavery was the law and running away from one's master certainly didn't mean the slave didn't have integrity or honesty

rant over

This post was edited on 9/20 at 10:07 am


tigerpawl
LSU Fan
Can't get there from here.
Member since Dec 2003
14851 posts

re: What to do if company refuses to send corrected 1099?
quote:

Yes, Virginia. There are still people with honesty and integrity.
quote:

Many, including me, don't think paying taxes means a person has honesty or integrity....

"well, it's the law!"

slavery was the law and running away from one's master certainly didn't mean the slave didn't have integrity or honesty

rant over
Did I mis-read the OP? Isn't he trying to report ***MORE TAXABLE INCOME*** than what's on the 1099, thereby voluntarily increasing his tax liability to the correct level?? ... because it's the right thing to do?? What am I missing here?? My inference was clear that many people would have seized the opportunity to screw the Gov't... given the chance.

"I did some work last year as an independent contractor and received a 1099-misc. It was short about 4k."

"My plan is to just claim the extra $4k as misc income on my schedule C so at least if the gov comes back I can say I claimed the income and hence paid the tax."




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LSUFanHouston
LSU Fan
NOLA
Member since Jul 2009
17364 posts

re: What to do if company refuses to send corrected 1099?
quote:

unless this is a timing issue and they are reporting that income on next year's 1099.


I'm not saying this isn't possible, because goodness knows I've seem some horrific accounting "systems" but this isn't likely.

Usually the problem is the other way around. The 1099 is higher, because they cut a check to the contractor on Dec 31 and the contractor didn't get it until the next year.


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Weagle25
Auburn Fan
THE Football State.
Member since Oct 2011
37606 posts

re: What to do if company refuses to send corrected 1099?
Report what you actually got where ever you put that 1099.

I wouldn’t separate it out. You’re correcting an error that goes in your favor. The IRS won’t come after you for sending them to much money


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