MicrostockGroup Sponsors


Author Topic: Bad 1099s again?  (Read 1194 times)

0 Members and 1 Guest are viewing this topic.

« on: February 23, 2015, 21:29 »
+1
I haven't noticed any discussion here yet in 2015 about problems with 1099 US tax forms so maybe I'll mention this here.  I'm not being specific about the stock agency as under US this could involve serious legal questions of a possible criminal nature depending on the intent of the agency.  For two years running I have received  1099 US tax forms from this agency indicating that during the previous tax year I earned a small amount of royalty payments (less than $100USD) although I actually received nothing from these people.  Initially I ignored the discrepancy and paid the few dollars extra tax.  However, This year the same thing happened.  If the agency is doing this with a substantial number of their contributors, this may appear that the agency has higher operating costs than is really the case. I am not a tax expert and I am certainly not accusing anybody of "cooking the books" but still, the contents of the corporate pot seem to be smelling more & more like fish.


Uncle Pete

« Reply #1 on: February 23, 2015, 23:21 »
+2
If they say they sent you those earnings, ask them for the payment for the same amount. That should clear things up fast.  :)

Unless they are reporting earnings and not payments.

Come back when you get an answer from the agency in question, to these questionable  1099s, I'd love to hear what they answer.

« Reply #2 on: February 23, 2015, 23:28 »
+5
My guess is that they are reporting earnings, not payments, as suggested by Pete.  I always request a payment in about the middle of December from every agency where I am at the threshold to minimize the discrepancy between earnings and payments for exactly this reason.

« Reply #3 on: February 24, 2015, 03:57 »
0
I haven't noticed any discussion here yet in 2015 about problems with 1099 US tax forms so maybe I'll mention this here.  I'm not being specific about the stock agency as under US this could involve serious legal questions of a possible criminal nature depending on the intent of the agency.  For two years running I have received  1099 US tax forms from this agency indicating that during the previous tax year I earned a small amount of royalty payments (less than $100USD) although I actually received nothing from these people.  Initially I ignored the discrepancy and paid the few dollars extra tax.  However, This year the same thing happened.  If the agency is doing this with a substantial number of their contributors, this may appear that the agency has higher operating costs than is really the case. I am not a tax expert and I am certainly not accusing anybody of "cooking the books" but still, the contents of the corporate pot seem to be smelling more & more like fish.

wow!

keep us updated on this

« Reply #4 on: February 24, 2015, 08:02 »
0
I received a 1099, filed my taxes, then received an email saying the 1099 was wrong. So yes, this is the second year in a row it has happened to me, too. You bring up a valid point. Smelly fish. If it happens next year, I think I will raise the stink.

« Reply #5 on: February 24, 2015, 09:28 »
+2

I don't report whatever is on a 1099. I report actual earnings, because I can prove what I earned. I've occasionally gotten 1099s from different companies with wrong numbers. I go with what I know I earned, not what these companies say they paid me.

« Reply #6 on: February 24, 2015, 09:57 »
+2
I also do what EmberMike said.  As long as I have been with Fotolia, they have always incorrectly reported what was earned during the past year, not what was paid out.

« Reply #7 on: February 24, 2015, 10:54 »
+3
I guess Fotolia cannot tell the difference between royalties reported  and paid in given year.


 

Related Topics

  Subject / Started by Replies Last post
6 Replies
1881 Views
Last post February 04, 2010, 18:09
by cathyslife
11 Replies
2917 Views
Last post January 12, 2012, 13:52
by donding
6 Replies
1983 Views
Last post February 04, 2012, 01:24
by melastmohican
26 Replies
7062 Views
Last post September 17, 2014, 18:59
by Valo
2 Replies
718 Views
Last post February 18, 2019, 21:19
by sgoodwin4813

Sponsors

Microstock Poll Results