Discussion:1099's with wrong "Recipient's Identification Number"
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| Revision as of 22:33, 19 February 2008 Sandysea (Talk | contribs) (EIN has 2 #'s in) ← Previous diff |
Revision as of 22:39, 19 February 2008 TxSrv (Talk | contribs) (IRS is not likel) Next diff → |
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| {{ForumReplyPost|UserID=Sandysea|Date=19 February 2008|Text=EIN has 2 #'s in the beginning, SS#, has 3 #'s. Could be the "dash" is in the wrong place....even if the 1099 is incorrect; a penalty for the payor...the payee should report it...are the 1099's indicative of the monies earned? If so, file it and then the payor has a penalty of $50.00 for each reporting error :)}} | {{ForumReplyPost|UserID=Sandysea|Date=19 February 2008|Text=EIN has 2 #'s in the beginning, SS#, has 3 #'s. Could be the "dash" is in the wrong place....even if the 1099 is incorrect; a penalty for the payor...the payee should report it...are the 1099's indicative of the monies earned? If so, file it and then the payor has a penalty of $50.00 for each reporting error :)}} | ||
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| + | {{ForumReplyPost|UserID=TxSrv|Date=19 February 2008|Text=IRS is not likely to penalize the payer, but we need not care about that anyway. We report all income received (if cash basis), 1099's notwithstandng. Payee is not obligated to contact the payer at all.}} | ||
Revision as of 22:39, 19 February 2008
Discussion Forum Index --> Basic Tax Questions --> 1099's with wrong "Recipient's Identification Number"
Discussion Forum Index --> Tax Questions --> 1099's with wrong "Recipient's Identification Number"
IheartTaxes (talk|edits) said: | 19 February 2008 |
| What do I do?
Taxpayer was issued several 1099's for work done during 2007. More than half of the 1099's the Taxpayer received have incorrect recipient EIN #'s. Therefore, less than half of Taxpayer's 1099's have correct EIN #'s. What should I do? Can someone plese tell me what they think the best way to handle this would be? Thank you for your help. | |
| February 19, 2008 | |
| Hmmmm, is it a coincidence that several payors entered the wrong EIN or is it the taxpayer filling out the W-9's incorrectly? Gotta wonder. I would request issuer to correct the 1099s. Ask them to pull the W-9s to see if taxpayer entered his EIN correctly. Remind taxpayer that his income is based on what he actually received even if s/he didn't receive a 1099. | |
| 19 February 2008 | |
| EIN has 2 #'s in the beginning, SS#, has 3 #'s. Could be the "dash" is in the wrong place....even if the 1099 is incorrect; a penalty for the payor...the payee should report it...are the 1099's indicative of the monies earned? If so, file it and then the payor has a penalty of $50.00 for each reporting error :) | |
| 19 February 2008 | |
| IRS is not likely to penalize the payer, but we need not care about that anyway. We report all income received (if cash basis), 1099's notwithstandng. Payee is not obligated to contact the payer at all. | |
