I should be getting some 1099-MISC forms from companies...
How long do they have by law to get those tax forms to me?
Is there a minimum amount that they must be in order for me to receive the 1099-MISC? Thanks in advance.
2007-02-10 03:15:34 · 4 answers · asked by darligraphy 4 in Business & Finance ➔ Taxes ➔ United States
They must send them by Jan 31, but this is not policed very well so they are often very late since they are not due to the IRS till the end of February.
They do not have to send one if the amount is under $600 or if you are a corporation.
You really don't need the 1099-MISC to file your taxes unless you are relying on them to tell you how much you made. You should always check that the total you report as income is at least as much as all your 1099's. If you keep good record I would just use that to file your taxes.
2007-02-10 03:28:26 · answer #1 · answered by Nusha 5 · 0⤊ 0⤋
They should have been sent out by January 31st. Realistically, you should have them by now. Companies are not required to issue a 1099-MISC if the amount paid during the year is less than $600.
As an independent contractor (I assume) you have presumably been keeping your own records, which will be sufficient for your accountant to prepare your return, except in the highly unlikely event that backup withholding has been deducted form any payments. Did you get any W-9 requests and, if so, did you return them in a timely manner?
2007-02-10 03:31:32 · answer #2 · answered by skip 6 · 0⤊ 0⤋
by law they have to be post marked by jan 31, 2007. to receive a 1099 for non-employee compensation, you need to have received more than $600 in 2006
2007-02-10 03:50:21 · answer #3 · answered by johnec4 3 · 0⤊ 0⤋
By Jan 31 they should have been sent out. I think I remember reading somewhere that companies can request an extension but those companies receiving it would have notified you by now.
2007-02-10 03:20:26 · answer #4 · answered by Eric L 5 · 0⤊ 0⤋