All Hokie, All the Time. Period. Presented by

The Lounge Board

RTFC

Joined: 08/08/2003 Posts: 6670
Likes: 3512


I am as well, however once official 1099 date has passed


I'm going to claim what I have on my books and send in return with 1099's I have. I figure as long as I claim more income than the IRS gets 1099's for I'm fine - went down this road once before when two of the companies I had done work for the previous year were no longer in business and I had no one to contact - it appeared no one was preparing tax documents, admittedly these were very small companies and not large amounts of money. I imagine that will be even more prevalent this year.

Tax attorney once told me you can claim just about anything when preparing taxes and the worst that can happen is you owe a little more money and maybe a bit of interest - real outside shot of a 10% type penalty....

Just. Don't. Lie.

They can disallow a business expense or a deduction and you'll owe, but a fictitious expense gets you in deep doo doo.




(In response to this post by PhotoHokieNC)

Posted: 02/01/2021 at 3:14PM



+1

Insert a Link

Enter the title of the link here:


Enter the full web address of the link here -- include the "http://" part:


Current Thread:
  I filed last night. ** -- IB4TECH 02/01/2021 4:33PM
  Got one of my little job W-2s today. ** -- Coach McGuirk 02/01/2021 1:07PM
  You took the blue pill from Morpheus. ** -- Mighty Fine Catch 02/01/2021 12:40PM
  LOL ** -- HokieR 02/01/2021 1:06PM
  Covid 1099'd ** -- bigbadbird 02/01/2021 11:26AM
  Aren't they all electronic these days? ** -- Brown Water 02/01/2021 11:24AM
  Combination of things - lots of it Covid related -- vawter85 02/01/2021 11:12AM
  I would consider a lot of that COVID excuse -- Vienna_Hokie 02/01/2021 11:36AM
  Thanks for the info ** -- HokieR 02/01/2021 11:14AM
  I received two last month (January) -- EDGEMAN 02/01/2021 10:49AM
  All your mail are belong to us. ** -- PhotoHokieNC 02/01/2021 11:02AM
  Still waiting for 1099s ---- > ** -- PhotoHokieNC 02/01/2021 10:34AM
  FWIW - Most of mine haven't arrived yet. ** -- Hokie360 02/01/2021 10:18AM
  I don't think so - I've got most all of mine. ** -- FfxStationHokie 02/01/2021 10:10AM
  Thanks. No idea what's up with mine ** -- HokieR 02/01/2021 10:11AM

Tech Sideline is Presented By:

Our Sponsors

vm307