Anyone else still awaiting 1099's to populate on transcripts?

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 wrote:

Anyone else still awaiting for 2025 1099's to populate on the wage & income transcripts? This is causing a major issue in some cases since good ol' Uncle Sam can't verify things, in particular against withholdings such as those on a 1099r.

 

There's no way some of the biggest financial institutions in the country can all be late filing 1099's, rather it's becoming apparent any delays are internal to Uncle Sam.  Shouldn't timely filed 1099's be on the wage and income transcripts by now, or is it normal to still be awaiting in June?

 

SE

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This is only anecdotal, but I didn't start seeing any 1099 DIV/INT/MISC/R begin to show up in my wage/income transcript until sometime in early May.   And only a few showed initially.  Then some have slowly trickled in--including a few earlier this week.  I still have some that have not shown up yet.   I suspect it has to more to do with the IRS posting data than with the financial institutions filing the info, but there's no way to know.   

Another place to look if you have an IRS online account is in the section for "Information Returns" documents.  It is on a tab adjacent to (but not in) the transcript section.   It should list the 1099's, W-2's, etc. that the IRS has posted.   

Currently stalled awaiting a missing 1099r to show up from an inherited IRA that is needed to verify withholding.  The 1099r was timely filed. The only other thing I'm starting to wonder, is if the naming convention could be the issue.  Decedent name is on the first line (marked DECD) and beneficary on second line (marked FBO) with beneficiary SS# used.  That format is appropriate for the account title, but I'm starting to wonder if that name format is also ok for a 1099r.... or if maybe that's a problem for Uncle Sam's system to process.

 I'm not a tax professional, but I'll see if  who is quite familiar with 1099-R can comment on that situation when he is next in the forum.  It's also possible others may comment in the thread.

I've seen that it's taken some time for all of the Forms 1099-R to show up in my Wage & Income transcript.

I puzzled why you aren't just using the Forms 1099-R provided to you by the payer.  It would be very unusual for the payer to provide different information to the IRS than they provided to you.  Also, state tax withholding does not appear in the transcript.  People usually use the transcript to just make sure that they have not inadvertently omitted some information return from their tax return that would cause the Automated Underreporter system to detect underreporting of income.

"Decedent's name is on the first line (marked DECD) and beneficary on second line (marked FBO) with beneficiary SS# used.'

I would expect the IRS to associate the income and tax withholding with the recipient based on the SSN.

Thanks   .

I did use the payer-provided 1099r.  But the system is apparently pitching a fit because there's no 1099r on file to match against so now the return is frozen until the 1099r posts to the transcripts. There is apparently now a lot of scrutiny on 1099r/W2 forms that have withholdings (I suspect to some degree even on the front end before a return arrives).  If anything looks even remotely out of usual in any way the system may lock things up, pending verification.  Might explain why 1099's are so slow to post this year. That aside, I recently started to wonder if there could also be a name-format flag regarding the 1099r in question due to the decedent being listed first...

All that said, there could simply be a major screw-up internally that is causing transcript delays, but of course nobody is gonna tell us that.  

Unless the financial institution had an approved extension, their deadline to electronically file Forms 1099-R was March 31although the filer can file Form 8809 with the IRS to get an automatic 30-day extension and can get  file another Form 8809 to get an additional 30-day extension for certain specified hardships.  That would extend their filing deadline to no later than May 30.

I reviewed some of my old Wage & Income transcript downloads and it seems that the Forms 1099-R have tended to appear in the transcript sometime in May.

  thank you for the replies. 

"If the recipient name on the form was an issue, one would think that everyone with inherited IRAs at that financial institution would be having the same problem." 

Agreed, just for my own curiosity though I need to look into this further and see if the name fields on a 1099r are auto-generated or if humans in the back office input that information each year. Or maybe if that name information is input on the front end by the phone CSR and not auto-populated.

"I will note that the Forms 1099-R reporting distributions from inherited IRAs have just the recipient's name in the Recipient field but below the recipient's information does provide the decedent's name."

A bit confused, some context please.... What is this in reference to, the 1099r in the transcripts or the 1099r received by the taxpayer from the institution?  I've now seen all three name variations on forms recevied directly by a taxpayer:

  - Beneficiary only

  - Beneficiary on line #1 and Decedent on line#2

  - Decedent on line #1 and Beneficiary on line #2

I inadvertently omitted a few words in my previous reply.  I've edited it to read:

I will note that the Forms 1099-R reporting distributions from inherited IRAs of which I am the beneficiary have just the recipient's name in the Recipient field but below the recipient's information does provide the decedent's name.

  , are you referring to the 1099r forms you received directly from the institution(s), or are you referring to how the 1099r's are portrayed in your transcripts?