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1099 correction timeline?
Posted on 4/8/19 at 12:11 pm
Posted on 4/8/19 at 12:11 pm
I gave an incorrect 1099 (wrong box filled in dumb mistake) to a family member I do business with and their CPA told me they may have to extend now? I corrected it this morning and E-filed already. If they wait a couple of days, should that not be adequate? It is only the 8th.
Not that extending is a big deal to my family member, their CPA was just kinda a dick about it.
Not that extending is a big deal to my family member, their CPA was just kinda a dick about it.
This post was edited on 4/8/19 at 12:12 pm
2
Posted on 4/8/19 at 12:18 pm to baldona
It was SOP when I was in tax preparation to add returns with incomplete information onto the extension list in the last week of the season. Sometimes I'd get to them and finish them, sometimes I wouldn't. CPA was likely just setting the right expectation. Correcting a 1099 entry likely only takes a few minutes, but those minutes are so precious the last week it moves waaaaaaay down the list of priorities, unless it's a super important client.
Posted on 4/8/19 at 12:34 pm to The Spleen
quote:
, unless it's a super important client.
It is an important client, and additionally it was a very basic mistake that they not only had corrected initially they should have entered it the correct way from the beginning weeks ago as they noticed it then. I put the income in "other income" instead of "Rents". I was asked to correct and re submit.
They are just waiting on the corrected 1099 so that all the ducks are in a row.
I completely understand deadlines soft and hard. The email I got was just kinda dickheaded instead of a simple "hey man we are still waiting on this and due to the deadline likely going to have to extend now".
Posted on 4/8/19 at 12:39 pm to baldona
Yeah, in that case that seems pretty dickish. But having worked in the industry, I somewhat understand. I never was a stickler for something that trivial, nor was the place I worked, but I know some are. A corrected W2, 1099brokerage account, or K1? Yeah, I'm waiting on that. A 1099-MISC with income put in the wrong box where I knew where it was supposed to go? I probably wouldn't have even requested a corrected one.
Posted on 4/8/19 at 4:07 pm to baldona
No need for the CPA to act like that. He's probably exhausted and frustrated and ready for April 16th, but we still need to act right.
I have a list of returns right now that need 1 or 2 more things, everything else is good to go. if the stuff comes in by Thursday, we update it and get it ready to sign. if not, we extend.
It's not good for anyone to be doing stuff at the last minute, but a single item a few days before the deadline is ok.
I have a list of returns right now that need 1 or 2 more things, everything else is good to go. if the stuff comes in by Thursday, we update it and get it ready to sign. if not, we extend.
It's not good for anyone to be doing stuff at the last minute, but a single item a few days before the deadline is ok.
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