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Strategies & Market Trends : Income Taxes and Record Keeping ( tax ) -- Ignore unavailable to you. Want to Upgrade?

To: Leman who wrote (1805)2/3/1999 11:14:00 AM
From: Colin Cody  Respond to of 5810
 
There is generally no reason to send a copy of your 1099 to the IRS. The IRS already has the 1099. (there is an exception if there is withholding taxes on the 1099)

The purpose of the 1099 form is to inform the IRS how much a taxpayer should be reporting on his tax return. If a taxpayer fails to report all the 1099 items, the IRS is pretty good about paying the taxpayer a visit... first by mail, and finally in person, if necessary.

Colin


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