1099 misc error, help!

[S1]

It’s two days before filing day (yes we’re terrible procrastinators), and we just noticed that my wife’s 1099-misc is wrong (her employer put down too high of an income on the form, about $1500 extra). Since we won’t have time to have the employer send a corrected 1099, what should we do when filing her taxes ? Help!

[PaulaM]

Have you requested the corrected 1099-MISC? Enter the form as it is reported. The IRS receives a copy of the form and will be looking for its match on your return. Once you receive the corrected 1099-MISC, you can amend your return and report the corrected amount.

[S1]

Hi Paula, we just did let the employer know about the situation.

Question now is, would we better off doing what you proposed or filing an extension and waiting for the corrected 1099 before filing?

We will be getting a refund regardless if that helps.

Thanks !

[PaulaM]

If you know the corrected 1099-MISC is in the works, then yes you can file an extension to avoid the hassle of an amendment. File for a free extension in the link below.

Easy Extension