2013 Form 1099 Mailing Schedule
- 2/14 – Mailing of original Form 1099s
- 2/28 – Begin mailing delayed and amended Form 1099s
- 3/14 – Final mailing of any remaining delayed original Form 1099s
Delayed Form 1099s
The IRS allows custodians to extend the mailing date until March 14, 2014 for clients who hold particular investments or who have had specific taxable events occur. Examples of delayed information include:
- Income reallocation related to mutual funds, real estate investment, unit investment, grantor and royalty trusts; as well as holding company depositary receipts
- Processing of Original Issue Discount and Mortgage Backed bonds
- Cost basis adjustments
What can you do?
If your documents are delayed, you should consider talking to your tax advisor about whether it makes sense to file an extension with the IRS to give you additional time to file your tax return, particularly if you have a delay in receiving your tax documents.
If you receive an amended Form 1099 after you have already filed your tax return, you should consult with your tax advisor about the requirements to re-file based on your individual tax circumstances.
IRS Updates
- Internal Revenue Service is sending out a warning of phone scam operations going on across the nation. Callers are claiming to be IRS agents and giving enough information for it to appear real. Do not give out information over the phone or in an email. If you owe or think you owe tax, hang up and call IRS back at 800-829-1040 and an agent should be able to assist you. If you do not owe, hang up and report the incident to IRS by calling 800-366-4484.
- Due to the government shutdown last year, IRS has stated there will be a delay in the filing season start date. IRS will neither accept nor start processing returns until sometime between January 28, 2014 and February 4, 2014. This will only affect those early filers looking for their refunds. Due date of April 15, 2014 has not been extended.
IMPORTANT NOTE: Tax regulations are complex and ever-changing. Be sure to consult with your tax professional for advice on your individual situation.
