Waiting For Those 1099 Tax Forms?
By Heather (Balance with Purpose)
It’s that time of year again–when accountants update their pocket protectors along with their tax software and people all over the United States wait anxiously by the mailbox to see if this will be the day that their W-2s and 1099s arrive so that they can rush right over to their accountant’s office to see what their refund will be from 2009.
Well, not so fast. For years after 2008, certain 1099s are not required to be mailed out to taxpayers until February 15. This includes: 1099-B (Proceeds from Broker and Barter Exchange Transactions), 1099-S (Proceeds from Real Estate Transactions), and 1099-MISC (if amounts are reported in boxes 8 (substitute payments in lieu of dividends or tax-exempt interest) or 14(payments to attorneys)).