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LeighP
Member
Holly Springs, NC
USA
37 Posts |
 Posted - 01/25/2005 : 05:04:18 AM
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I have just finished my first year of shopping where I made enough from most companies to get a 1099. When do they send them out?
Leigh |
Leigh Pomerleau
MSPA Silver Certified
Shopping Raleigh, Durham, NC and surrounding areas |
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Marry
Star Contributor
USA
439 Posts |
Posted - 01/25/2005 : 06:47:32 AM
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| I am not sure about MS companies, however I believe all tax information needs to be mailed by January 31st. |
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KimBie
Star Contributor
USA
605 Posts |
Posted - 01/25/2005 : 07:17:58 AM
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| By law, all tax statements must be POSTMARKED by January 31. |
 Kim 
MSPA Silver Certified |
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Cath
Star Contributor
USA
703 Posts |
Posted - 01/25/2005 : 07:48:41 AM
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Should be real soon. As Kimbie said, January 31.
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MSPA "Go To Shopper" 2006
MSPA Gold Certified, July 2003.
MSPA Gold Certified Shoppers Panel, Washington, DC, November 7, 2003.
Specializing in hotels, resorts and restaurants since 2002.
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CariTX
Valued Contributor
Plano, TX
USA
201 Posts |
Posted - 01/25/2005 : 10:50:26 AM
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Keep in mind that you will only be issued a 1099 if you did over $600 work for that one company. And because we are ICs, they are not required to send us a 1099. However, they do send them to the IRS, so be sure and report all income on your tax return whether or not you get a 1099.
Cari - now an official H&R Block tax professional |
MSPA GOLD Certified gdhls4. Happily shopping and merchandising in North Texas
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NancyP
Member
Orlando, FL
USA
36 Posts |
Posted - 01/26/2005 : 10:11:51 PM
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Just a reminder for anybody who is "waiting" for a 1099 to finish a tax return: You don't need the 1099 to file your 1040.
You do have to report every penny of income, whether or not the amount is sufficient to generate a 1099.
Your excellent bookkeeping records will show what you earned. The 1040 reporting is not dependent on the 1099. The amount of income you received may not exactly match the 1099 (if your bookkeeping method is "cash," you won't be reporting a payment that was issued on December 31st), and 1099s are not required to be attached to 1040s.
HTH
Nancy P. |
Nancy |
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Leisa
Star Contributor
USA
530 Posts |
Posted - 01/27/2005 : 10:12:02 AM
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quote:
Originally posted by IllinoisKelly
Got mine from Maritz today...
I haven't received mine from Maritz yet, but I bet it will arrive in a day or so.
Just a note...Maritz issues W-2's, not 1099's. 
(but as of 2005, they will be on 1099's, since we all became IC's instead of employees  ) |
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KimBie
Star Contributor
USA
605 Posts |
Posted - 01/27/2005 : 11:18:23 AM
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| All individual taxpayers are cash basis and therefore only include cash payments actually received in 2004. |
Kim
MSPA Silver Certified |
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NancyP
Member
Orlando, FL
USA
36 Posts |
Posted - 01/28/2005 : 02:41:38 AM
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quote:
Originally posted by Kimbie
All individual taxpayers are cash basis and therefore only include cash payments actually received in 2004.
This is true only to the extent that a sole proprietor has not decided to keep their books on an accrual basis.
When you begin your business you determine what system you will
use. Once you select either cash or accrual, though, you have to get IRS permission to change bookkeeping systems. |
Nancy |
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Jenny41
Star Contributor
Ohio
USA
744 Posts |
Posted - 01/17/2006 : 4:46:10 PM
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| I have also just finished my first year, so how do I prove income if I receive no 1099 from a company. I hate to sound dumb just want to do it all right. |
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LindJorg
Star Contributor
Tacoma, WA
USA
921 Posts |
Posted - 01/17/2006 : 8:47:59 PM
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| You do not need a 1099 for your taxes. The 1099 is required that the MS companies report to IRS if they paid you over $599. |
Linda |
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Pat S
Valued Contributor
San Ramon, CA
USA
142 Posts |
Posted - 02/01/2006 : 3:45:22 PM
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| Jenny41- Lindjorg is dead on. They don't have to send one to you until you earn over $599. However, they still send the data to the IRS so the IRS will know how much you made. Thus if you don't report it the IRS might put a red flag on it and that is the last thing I would want to deal with. |
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LindJorg
Star Contributor
Tacoma, WA
USA
921 Posts |
Posted - 02/01/2006 : 9:54:38 PM
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Exactly, let's say you work for 20 MS companies and they pay you $200 each.........they will report that to IRS. Now, they are required by law to report it. IF you earned over $599, then they are required to issue a 1099 to you. BUT all your income WILL be reported by these MS companies. They have to keep their books straight also!!
You need to keep your OWN records of money received, required purchases, mileage, deductions such as printer ink, paper, % of internet charges, etc. These figures are put on your Sch C or Cez...then once you get it figured out....you will end up with a profit or loss. That figure is put on your 1040.
TURBO tax is great and that is what I use.....it will walk you through the entire process. OF course, feel free to have a PRO do your taxes if you prefer.  |
Linda |
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Elizabeth36
Star Contributor
Greenville, NC
USA
566 Posts |
Posted - 02/01/2006 : 10:14:49 PM
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I love TURBO TAX!!! I got the middle one they had available and it worked like a charm... Now I am sitting back and waiting on the Refund Check!!!
I only received one 1099 but as they pointed out you must report all income regardless... |
Elizabeth
Shopping Greenville NC and surrounding areas!
I WANT MORE MERCHANDISING WORK! Call me, ok? |
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Leisa
Star Contributor
USA
530 Posts |
Posted - 02/03/2006 : 8:07:39 PM
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quote:
Originally posted by Pat S
they still send the data to the IRS so the IRS will know how much you made
This is not the case with all MS companies.
I ran across one today (while updating) - the profile page states:
Social Security Number (optional) (If your total compensation exceeds $599.99 in a calendar year you will be required to provide us with your Social Security Number) |
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BlueAbe
Star Contributor
Mid-Central, Ohio
USA
2080 Posts |
Posted - 02/02/2009 : 03:39:50 AM
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The problem with that rule, what's stopping someone from refusing to give it once they earn that much? (Such as if they quit). Great example. United Data Network did about $5,000 with my company last year, then decided not to provide any more records because she wanted to focus on something to fill her pockets more, and not take care of her people. I made SEVERAL requests over the following months for her tax information so I could send her a 1099. Every time I got excuses and such. 7 months later brings me to Feb 2nd, I still never got this information from her.
My confusion this year was with Jan 31st being on a weekend, when did they have to be mailed?
(BTW, I sent out a 1099 where someone was paid 50 cents, so we sent them to EVERYONE that was paid. Not even worth the stamp, but the stamp is tax deductible.) |
Gold certified since the beginning. Merchandising, Mystery shopping, & Court Research throughout Mid-Central Ohio. |
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Amber from Sunny Florida
Contributor
Leesburg, FL
USA
56 Posts |
Posted - 02/02/2009 : 06:42:05 AM
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From what I saw on the IRS website, companies had until today. February 2nd to send out 1099s and w-2s.
I am just waiting on my last one from Certified. |
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Erik K
Valued Contributor
NY
USA
209 Posts |
Posted - 02/02/2009 : 7:10:42 PM
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quote:
Originally posted by BlueAbe
The problem with that rule, what's stopping someone from refusing to give it once they earn that much? (Such as if they quit).
This is why the IRS requirement is now to get a W-9 from a vendor before you make your first payment (even if under $600). |
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BlueAbe
Star Contributor
Mid-Central, Ohio
USA
2080 Posts |
Posted - 03/01/2011 : 6:36:21 PM
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quote:
Originally posted by KimBie
By law, all tax statements must be POSTMARKED by January 31.
By Tax law, W-2 tax information must be post marked Jan 31st. If you are receiving a 1099, for 2010 tax year, employers have until March 3rd to send your 1099.
I just got off the phone with the IRS, that came directly from them. Tax law is different for 1099's. |
Gold certified since the beginning. Merchandising, Mystery shopping, & Court Research throughout Mid-Central Ohio. |
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Topic |
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When do companies send out 1099's?