Errors in 1099-MISC - no way to e-file now?

Hi all,

A client sent me 1099-MISC for 2010 that includes in its total a payment that was actually made in 2011 (although it's for services rendered in Dec

2010). It appears to be a clerical error and I have a reason to believe they'll report the money again in 2011. I've contacted the company but, this being a large organization, I just know that no one cares about anything, most especially service providers, and my request to correct the form will either get completely ignored or it will come too late. In addition, this year I'm trying to file a bit earlier because of college financial aid deadlines involved (March 1st).

I understand that IRS has a form that needs to be filed if there is an error in a W2 or 1099 (Form 8275?) but they cannot accept that form electronically. Is this correct?

Can someone think of another way to handle the situation quickly (other than paying almost $500 in extra Fed+State+Local taxes).

I'm using TurboTax Home & Business to prepare and e-file.

Thanks!

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Reply to
DA
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Unless the 1099-MISC shows withholding there's no need to tell TT anything about it. Just report your correct total receipts on Schedule C and work from there. There's no e-file problem.

If the issuer doesn't correct the 1099 the IRS may come calling down the road, so keep your records handy about when you received the income. By that time you will have filed your 2011 return, so you'll also be able to show them you included the "missing" income in the correct year.

Phil Marti VITA/TCE Volunteer Clarksburg, MD

Reply to
Phil Marti

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