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1099 Misc Income Question - Packer Backer

Posted: Feb 09, 2011

What do you do if the 1099 you received from a former client doesn't equal the payments received from them. It says they paid me more than I received or show deposits. The office manager will not return calls or e-mails? She even stiffed me on my last invoice.

Not sure, I had a (former) MTSO do that to me by - sm -

[ In Reply To ..]
several thousand dollars a few years ago . I sent in what I actually made to the IRS, after they said they would reissue me a new one which of course they never did. I ended up getting audited because of it and had to pay taxes on money I never made. Can you say pissed? MTSO ignored every email or call I made about it and royally screwed me out of about $1k in taxes and penalties. Needless to say not to happy with them.

Claim your numbers - xmtso

[ In Reply To ..]
Make sure you have proof of your numbers. If and when the IRS catches up to it, you can let them know that you made efforts to contact her to get a corrected 1099.

try this - sm

[ In Reply To ..]
From the Tax Guru website:

"First, you should contact the business that issued the 1099-MISC and ask them to send you a corrected 1099-MISC.

Keep documentation of these communications!

If you are unsuccessful getting a satisfactory answer to the discrepancy or getting them to agree to send you a corrected 1099-MISC, you will need to call the IRS at (800) 829-1040. Itâ��s best to do so early in the morning, since youâ��ll have a better chance of getting through.

Explain that you received the 1099 and disagree with the amount that was reported on it, and that youâ��ve tried to resolve the situation with the business, but have been unable to.
Ask the IRS complete a Form 4598, â��Form W-2 or 1099 Not Received or Incorrect.â�� (You have to request it via this phone number and IRS must complete the form -- Itâ��s not something you can just download from their website.)

Youâ��ll need to give the IRS the payer information from the 1099 you received and the details of how you arrived at your own valuation figures. The IRS will send the complaint form to the business, who has 10 days to respond (you should receive a copy as well)."

Thank you - Packer Backer

[ In Reply To ..]
Thank you very much for your help. I will call in the morning. Wish me luck!

excellent info! you rock. - anon

[ In Reply To ..]
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a couple of thoughts - ICManiac

[ In Reply To ..]
I have heard of MTSOs issuing 1099s for amounts larger than the amount paid as a way to scam the IRS. They get to claim a larger expense than they incurred. I don't know what the situation is with your MTSO, but if you are not getting a response you may want to begin a documentation trail.

You could send a certified letter to the business with a letter outlining your invoices, payments received and dates, any outstanding balances, etc. Ask for a corrected 1099. At the bottom, add
"cc: Internal Revenue Service
copy of 1099 issued by EIN xxxxxx today's date"

Were you paid by direct deposit or by check? If by DD, then it is easy because you have bank statements to match up to your invoices. If by check, was there a check stub that showed a YTD total? That would help your situation. Certainly claim any unpaid invoices as a loss on your 1040.

If no response within 30 days, I would file with the amount you can prove and submit a copy of what you sent by certified mail (and hopefully a copy of the returned envelope if it was refused).

In addition, keep an eye on your future Social Security Earnings Statement. My past experience is that when I claimed X amount on my return, SS posted X amount from the totals of my 1099s/W2s.

Best of luck to you.

any reaon other than simple mistake, one would come way LESS than what you made? - anon

[ In Reply To ..]
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