ILLMAS Posted June 25, 2021 Report Share Posted June 25, 2021 New client mailed (registered) their 2019/2020 1099s by the due date for each year, I called the IRS and was told they have no record of receiving the 2019 and there is a high probability the 2020 have not been processed yet (IRS is backed up….). I offered to recreate and submit them electronically, what are the chances the IRS would duplicate them once they process the paper files? Quote Link to comment Share on other sites More sharing options...
Pacun Posted June 25, 2021 Report Share Posted June 25, 2021 Chances are 100% that the IRS will duplicate the 1099misc and 1099NEC. Subcontractors will received a letter or bill from the IRS about the second form eventually. 1 Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted June 25, 2021 Author Report Share Posted June 25, 2021 I hate when that happens. Quote Link to comment Share on other sites More sharing options...
Medlin Software, Dennis Posted June 25, 2021 Report Share Posted June 25, 2021 I know of a form 7200 (the supposed quick payment of 941 credits) sent in early Feb was just processed a few days ago... 7200 was supposed to be processed and the money paid out in a matter of weeks, not months. This goes along with my personal belief never to rely on a form being processed, and with that in mind, if there is ever a credit on a form, always use the refund, never relying on the tax agency to timely or properly apply to a later return. 1 Quote Link to comment Share on other sites More sharing options...
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