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How Long Should I Wait to File My Taxes If I Think I Am Missing a 1099?

how long can you wait to file taxes

If you believe the Internal Revenue Service owes you a tax refund, you will probably want to file your taxes well in advance of the April 15 deadline. If you owe taxes, the IRS requires that you pay the estimated amount of taxes you owe by April 15; after the deadline you will pay interest on any unpaid amounts until you file and completely pay your tax debt, even if you file for an extension. Either way, you will need all of your forms and documentation to properly prepare your taxes.

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What are the deadlines to Receive 1099s?

Although payers are required to send to payees Forms 1099 for most reportable transactions by January 31 of the year following the applicable tax year for the Form 1099, as of 2011, the latest deadline for payers to send a Form 1099 is February 28. In general, the IRS suggests that if you have not received all of your 1099 forms a few days into February, you should start the process to obtain those missing forms.

First Steps

Check to see if there are alternative ways to obtain the 1099 information. This may include visiting the payer’s website to obtain the information, such as a bank interest statement or the amount of a pension distribution. You

may have also received other statements by mail. If you are able to obtain this information from alternative sources, you will not need to wait to file your taxes until you receive the Form 1099. If you are unable to obtain the information online or if you do not have paper copies of statements, then you should contact directly the payer responsible for providing you with the specific Form 1099.

Contact the IRS

If you do not receive your missing 1099 forms by February 15, you should contact the IRS for help. The toll-free number for help from the IRS is 800-829-1040. The IRS is likely to require some identifying information in order to discuss your taxes with you, such as your name, social security number and, sometimes, the amount of your last tax return or the amount you paid in taxes.

What if You Do Not Realize You are Missing a 1099?

You may amend any tax return that you have filed within the past three taxable years. As of 2011, you may amend back to your 2006 taxes. Accordingly, if you do not realize you are missing a Form 1099 and you file your taxes, you may amend your taxes on Form 1040X and revise the filing to reflect the inclusion of the missing Form 1099.

Category: Taxes

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