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Level 1

Can I claim a 1099 misc form on my taxes next year to avoid tax evasion?

I already filed and the form was mailed last minute. im not sure if I should take it to an accountant or amend it. also since it came so late can I legally claim it on my taxes next year to avoid tax evasion.

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Level 10

Can I claim a 1099 misc form on my taxes next year to avoid tax evasion?

If the income was received in tax year 2015 (calendar year 2015) then you need to report it on your taxes this year. Employers are required to submit to the IRS any 1099-misc they issued so the IRS will be looking for you to be reporting that income (they do a match on their end). If you don't report it you will get what is called a CP2000 notice from the IRS telling you you failed to report income and they will likely charge penalties and fees.

If you've already filed your taxes, and the status is "accepted", then you can easily amend your return with TurboTax. Sign back into your account and where your filed return shows accepted, there is an option to amend.

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Level 10

Can I claim a 1099 misc form on my taxes next year to avoid tax evasion?

If the income was received in tax year 2015 (calendar year 2015) then you need to report it on your taxes this year. Employers are required to submit to the IRS any 1099-misc they issued so the IRS will be looking for you to be reporting that income (they do a match on their end). If you don't report it you will get what is called a CP2000 notice from the IRS telling you you failed to report income and they will likely charge penalties and fees.

If you've already filed your taxes, and the status is "accepted", then you can easily amend your return with TurboTax. Sign back into your account and where your filed return shows accepted, there is an option to amend.

View solution in original post

Level 20

Can I claim a 1099 misc form on my taxes next year to avoid tax evasion?

Note for future tax years: It's important to remember that you still need to report all of your income even if you did not receive a 1099-MISC. In fact you never have to wait for those forms at all since you can simply report all of your income on the return under General Income.  Those 1099 forms are really just confirmation of your business income records that you should be keeping for yourself.  And entering those 1099s in the TT program is for your use only, the IRS only gets one total on the Sch C anyway. 

How do you know if they are even correct if you don't keep good records?  You would need proof to contest an incorrect number on one of those forms since errors do happen. What if a 1099 said you earned $100,000 instead of $10,000?  How could you prove it otherwise?