The Tax Preparation Blog

Posts Tagged ‘literature’

Question: What do I file if I do not receive my 1099?

I worked for a small company last year as contract labor. The owner of that company went MIA and took all the records with him. Therefor, I have no idea how much I made working there (he paid cash sometimes) so I am unsure of what to file on my tax return. Do I file no income or guess at the amount? If I put no income or a small amount can I get in trouble? What if I put no income and he gets audited or something…what are my rights?
Tax professionals please help!
He still has a week to get me my 1099, I just want to know my options because I don’t think he even has my address to send it to me!

Additional Details

1 hour ago
From what I have found out about this man, after the fact, is that he is not very good at taking care of business. I do not think he is even going to file 1099s but I have no way to know for sure.
And when is the deadline for him to send out 1099s?
**Also, yes I should have kept detailed record of the money given t

Answer: Legally you are responsible for reporting all income you made this company. The situation sounds like he is not going to comply with tax code and issue you a 1099. In order for you to be compliant, I would suggest you piece together your records as best you can and determine the total amount paid to you in 2007. The best resource would be your own bank statements. For the cash you may just have to go off of memory or best estimate.

In the future you might want to keep some records when you work for a company like this. This will protect you and help you avoid any kind of negligence penalties.

NLR voters step up to plate: negotiations came down to small details, city attorney says.: An article from: Arkansas Business $5.95 This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on July 4, 2005. The length of the article is 1839 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsTitle: …

QuickBooks Accountant 2012 $319.96 QuickBooks Accountant 2012 has customized features for accounting professionals. Manage client documents directly in QuickBook. Save time setting up new client by using existing company file as a template. Collaborate easier with clients by creating date bound copies of your clients’ QuickBooks files. With Client Data Review, quickly find and fix client data entry errors. Simplify your work…

TurboTax Home & Business Federal + e-File + State 2010 [Download] [OLD VERSION] $97.99 TurboTax Home & Business was designed to help you take full advantage of your personal and business deductions so you get the biggest tax refund possible, double-checking for accuracy and identifying missing deductions and credits. Includes free Federal E-File. Everything you need to easily do your personal and business taxes. Guides you Step by Step through Self-Employment Income, Deductions, an…

Tax Season is Over – Now What?

You can breathe a sigh of relief, the big push towards the April 15th tax deadline is over. Now you’ll spend the next few weeks finishing taxes for clients who filed an extension. Then, after taking a much deserved break for some rest and relaxation, what should you do next?

Tax Deduction Tips & Advice : How to Use Legal Fees as a Tax Deduction

U.S. Energy Secretary to Take Part in Charleston Forum on Coal

The Obama administration’s top energy official is coming to West Virginia next month to talk about coal.

Oil Spill Updates, The Elite Are Picking Sides For WWIII-US/Israel To Be The Fall Guys