33 thoughts on “1099s MISC and K

  1. TaxMama says:

    Hi Stephany,

    Look at the 1099 carefully.
    In one box (left), there is the payer’s EIN.
    The next box (right) should contain your (recipient’s) Social Security Number.

  2. Stephany McDaniel says:

    Sorry our power went out, no i filed after i received my 1099-misc but why did it use his EIN number?

  3. TaxMama says:

    Dear Stephany,

    Did you already file your tax return without reporting your income from your employer?

    If you did, and didn’t report this income, then yes, you will need to amend.
    Also, if you were really an employee, and not a freelancer, then you will need professional help to handle this amended return. Otherwise, you will pay too much in taxes.

    In addition, when the income is reported correctly (as if you were an employee), your employer will be hearing from the IRS – so your job may be in jeopardy. So, find a new job with a legit employer before filing the amended return this year.

  4. Stephany McDaniel says:

    I never filed a 1099-misc before this year was my first and I do not have an EIN but for some reason my forms that are filed has my employers EIN why is that? Do I need to file an amend?

  5. Confused says:

    Good advice about the EID. Thanks.

    Wow– so I can get a penalty because this company did not ask me for my ID#? That’s so unfair!

  6. TaxMama says:

    You’re welcome.

    Yes, they can send a 1099 to the IRS with just your name and address.
    Then the $50 penalty would be assessed against you for not providing an ID number.

    Incidentally, I suggest that you get an Employer ID Number (EIN) so you don’t go around giving out your SSN to folks.

  7. confused says:

    Thanks, Eva and Janet. I think I get it now.

    Janet– sorry I misunderstood your prior comments!
    Eva– Form 4506T is a great tip (and made me decide I’m going to buy your book!)

    I appreciate all of your help.

    The plot thickens slightly… I just realized they never had me fill out a W-9. So they don’t have my social. They only ask for information needed to send a Paypal or Wire Transfer.

    Without a social but with my name and address alone, can they even send the IRS a 1099?

  8. Janet Stotler says:


    No No, as I said earlier, the company is required to send you a copy if they report to the IRS. There is a penalty to them for not doing so if the IRS finds out about it. There is also a penalty for them to not report at all if they are required to. See my prior emails on 2/06. one at 1:46 pm and one at 6:45 pm.

    But there is no penalty for you no matter what they do or don’t do. None. None, None. It’s all on them. You do want to get that copy though if they filed it to be sure they told the IRS the amount that agrees to your records. If it doesn’t agree then you should call them and reconcile your records to each other so they correct the 1099 if its off or you correct your records if yours are off.

    Sometimes the records differ if they sent you a check at the end of one year and you did not deposit it until the next year. That difference could be either at the start or the end of the year.

    However, its the postmark date that counts. If you received a check in Jan 13 that was postmarked Dec 12, you should have counted that in 2012 income. Same for a check cut in 2013 that you did not deposit until 2014. Their 1099 is (or should be) based on when they cut the check, not when you cashed it.

    Janet Stotler, EA

  9. TaxMama says:

    Oh NO! They must send it to you as well.

    You are important.

    Just make sure your address is updated in their database.

    Of course, if you want to wait to file your taxes until May (on extension), you can file a Form 4506T and request transcripts of all the 1099s and other 3rd party forms sent to the IRS.
    Then, even if you didn’t get something but the IRS did, you’ll know. It’s a free service.

    We do that for seniors who lose paperwork.

  10. Confused says:

    Thanks very much, Eva, that helps a lot.

    Just for clarity: I am understanding from the comments above that the company needs to send the 1099 to the IRS, but doesn’t need to send it to me.

    In other words, if they send it to the IRS and not me, there’s no penalty?

    Thanks again.

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