Late 1099's
 

I'm about to file my personal taxes tomorrow...Are there any companies who haven't sent 1099's yet? I know it's technically 17 days past the cutoff, but you never know.

I'd hate to have to add amendments. I've reported all, but if you don't note the 1099 filings, it's bad news. :(

Hmm. I think I am in trouble. Was gathering all of my info to take to my accountant this week and I have hardly any 1099's. I should have one for each sponsor? Fuck, I hate taxes.... :disgust

Only those who have paid you over $600. I have a few that told me they aren't filing the 1099's, and others who said they are filing for extensions. I hope their extensions don't force me to amend my personal taxes. :disgust

As far as I have read, the deadline is Feb 28th...Has anybody dealt with 1099's coming later than March 15th? I can't recall the past, but I'm hoping not. I like having a 1 month gap to know what I owe, and not having to do additional paperwork.

To make it worse, my company accountant filed us for an extension, so that'll already be 1 amendment I'll have to make. I wish the IRS would just tax everything 20% so that we don't have to put up with this bullshit every year that cuts into personal productivity. I guess that would be too easy of a solution though. :1orglaugh

We're filing for an extension. :2 cents:

Damn...I have maybe received 2-3 1099's and have at least 15 sponsors who paid me over $600 last year. Errr..

Thanks for the info :thumbsup

And for that, you will be punished!!!

http://www.taxingsubjects.com/PDF/impdates.pdf <=- 2/28 is the deadline
http://answers.yahoo.com/question/in...9154918AArRJdz <=- 1/31 is the postmark date, but I thing the 28th of Feb is the extension.

Nevermind.

I just got one in last week. It's a good thing that I wait until the last minute to file mine, ha ha ha.

In all honesty it seems like only about half the companies I use actually send one out. I should have gotten 1099's from around 20-25 companies this year and I think I got about 12-15 and that is about par for the course each year. I think some of it may be that they are companies that are outside the US so maybe they don't send them, I'm not sure, but it never surprises me when I don't get one.

1099's must be postmarked by Jan 31 according to the US tax codes. This rerely happens. US webmasters you need to keep track of your own payments. Do not rely on 1099s. I use around 40-50 sponsors and have gottenmaybe 4 1099s. Where the other ones are no clue but i will still report my earnings even if i dont get one. YOu still need to report overseas sponsors as well. The US goverent knows what you put in your checking/savings account and if you report say 70k and deposite 140k well you are simply gonna get flagged for a audit then be prepapred to explain where that other 70k came from. simple and short YOU need to keep track of your earnings not rely on 1099s.

I think I had a total of two 1099's. One mainstream company and one adult. I wrote out two nice sized checks last week for my taxes...

I have found over the years that most small programs never send 1099's. I think many who run just on ccbill or paycom presume that they do not need to send the affiliates anything, plus hell how many actually have accountants or any real world business knowledge. Of course with NATS and MPA3 out there and those owners doing self payrolls, again most smaller to mid site owners also neglect to send these.

As it has been mentioned one must always keep track of every damn penny they earn all by themselves. Even from those companies you do not earn at least 600.00 a year from.

Then if you are really smart and happen to use Epassporte, one would make damn sure to mark each payment in your books as Epassporte and make sure your accountant does the same so that you can account for every damn penny you send or receive via this off shore method. Nothing is going to raise flags like off shore crap for the next several years. Have any doubts, check current laws, political talk, IRS budget allotments, etc.

At the beginning of February Traffic Gigolos told me they send out 1099s and their accountant would be sending them out shortly. I e-mailed them back a couple weeks later but I didn't even get a response. No 1099 either.

Yes..I do this. :thumbsup

It's just that an official tax doc needs to be reported (1099), and if they are not here in time, I am stuck doing an amendment. After 9 years in this biz, I fully understand the importance of reporting every little penny. :winkwink:

For those who have not done this before, please read the above post. Famous knows what he is talking about.

Very good post.

Yep, My first year in adult I relied on 1099s and it created such a headache for me I decided never again. Now I have a spreadsheet and I keep track of every penny in and out. It is much easier, only takes a few minutes a week to keep current and saves me time and money at tax time.

Foreign sponsors do not send out 1099's as they do not pay US taxes and therefor see no reason to burden themselves with that kind of shit.

As was stated before, make sure your income in the checking account matches what you report. When you get audited they check your last three bank statements to get an idea of what is going on...

Of course this doesn't help you when you are growing... Try telling them that you made much less in Jan of last year to Dec of last year than you currently are this year and they will just laugh at you...