A community of 30,000 US Transcriptionist serving Medical Transcription Industry


IC- 1099 posts - xmtso


Posted: Jan 28, 2011

I'm curious about all the posts regarding getting your 1099 if you're an IC.

As an IC, a business person, you should already know what you've billed to clients (services).  You don't need to wait for a 1099 to file your income taxes if you've kept good records and already know what you billed out and what you received.

I'm flabbergasted at how many of you are so clueless with how to BE an IC.

feel better? NM - x@%

[ In Reply To ..]
.

some of what you've said is true, yes, but - ICManiac

[ In Reply To ..]
it has been my experience that not all 1099s are sent out with 100% accurate information. Last year one had the last digit of my SS# wrong (even though this doc had sent out 1099s to me some years prior to that with the correct number).

Another year a W2 for SE had figures in the incorrect places, a correction was sent out, which the IRS thought meant I made the same amount for the same company twice in that year.

If I have small dollar figure 1099s that I am waiting on, I have sent in my return without waiting. But when I am expecting one of a significant amount, I do prefer to wait until having it in hand before filing. It just makes me feel better.


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