Taxbrain 2012 – 2013 What if You’re Missing a W-2 or 1099?

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Taxbrain 2012 – 2013 Exceptions for Not Receiving a 1099

 There are some exceptions where you would not receive a 1099. If the amount of income is less than $600, a Form 1099 is not required. Also, if you’re self-employed and have incorporated your business, you might not receive any 1099s.

In other cases you might not receive a 1099 even though you received interest or dividends. Contact the payer. The income still needs to be reported on your tax return.

Fixing a Tax Return After You’ve Filed

On occasion, you may receive your missing W-2 or later receive a 1099 after you filed your return using Form 4852, and the information may be different from what you reported on your return. If this happens to you, you must amend your return by filing a Form 1040X (Amended US Individual Income Tax Return). Amended returns can be generated in Taxbrain by clicking the “amend” link located to the right of your return’s name on while viewing your accounts. For more information on filing an amended return, refer to IRS Topic 308 or “Need to Fix Your Tax Return?”.

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