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Old 04-01-2013, 11:55 AM
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Pkwagner

What should I do if I did not send in my completed 1099's with my 1096?



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Old 04-01-2013, 02:16 PM
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You need to send 1099s ASAP. Some say, “Never seen a penalty on a late 1099s” .However, you may get an IRS letter for late filing of 1099/1096 $15 each .As the 1096 is the transmittal for the 1099s , you need to mail 1099s and your 1096 to the same place; So, if you have no 1099's you do not need to send in the 1096. You will need to submit a separate 1096 for every type of information return you have given to a recipient



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Old 08-16-2013, 03:09 PM
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Originally Posted by Wnhough View Post
You need to send 1099s ASAP. Some say, “Never seen a penalty on a late 1099s” .However, you may get an IRS letter for late filing of 1099/1096 $15 each .As the 1096 is the transmittal for the 1099s , you need to mail 1099s and your 1096 to the same place; So, if you have no 1099's you do not need to send in the 1096. You will need to submit a separate 1096 for every type of information return you have given to a recipient
I am totally agree with you. You are 100% good here that if you have no 1099's you do not need to send in the 1096.



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Old 08-18-2013, 01:58 AM
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Originally Posted by Aidan8100 View Post
I am totally agree with you. You are 100% good here that if you have no 1099's you do not need to send in the 1096.
An IRS form 1096 is a tax document required by the IRS for transmitting information returns. The purpose of the document is for the IRS to track information about income when it is reported to the IRS by the entity paying taxable income. Therefore, even if a form 1099 is not being filed with the IRS, you must file a form 1096 if you file other income reporting documents.In general, you need to attach a 1096 form with each 1099 submitted -- the 1096 serves as a transmittal document. You should put your 1099s and 1096 -- and any other tax documents being submitted at the same time. Go ahead and send copies of 1099S ASAP; there is a penalty for late filing of 1099's. Up until THIS year, this really wasn't a problem. Ive never heard of penalties being assessed before year 2005. However since then I've heard of a couple of cases where IRS is taking a hard line. Please contact the IRS for more info in detail.



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