What to Do If You Missed Your 1099 Tax Form
Every year around this time, freelancers are flooded with Form 1099 so they can report their earnings to the IRS. But what if the one you’ve been waiting for never arrives? Forbes tip: Don’t ask for it.
You must still include the amount you earned on your tax return (otherwise a verification will likely be done), but do not ask the payer for the form. This is because the IRS receives a copy of every 1099 form generated by the payers; if you ask for a form, you may get two of them (one is missing and the one you requested) and the IRS computer may think you have double your income.
Also, be patient and (obviously) keep a good record of income:
Don’t rush to file your return if you haven’t received all of your 1099s. Some 1099s may not be shipped later than March or April despite the normal deadline (they must be mailed to you by January 31st). I see clients grappling with tax bills every year, and it could probably have been completely avoided if they had reported more thoroughly.
Don’t you like tax season?
Why IRS Form 1099 Is So Dangerous For Your Tax Account Forbes