Recent legislation changed the due date for furnishing Copy B of certain information returns to recipients for returns required to be filed after 2008. The new due date is February 15 of the year following the calendar year for which the return is required to be filed. This change applies to Form 1099-B, Proceeds From Broker and Barter Exchange Transactions, and Form 1099-S, Proceeds From Real Estate Transactions.
This change also applies to Form 1099-MISC, Miscellaneous Income, but only if substitute payments in lieu of dividends and tax-exempt interest or payments to attorneys are reported.
An incorrect due date is printed in the 2008 general instructions for Forms 1099, 1098, 5498, and W-2G, and in the instructions on the reverse side of Copy C of the 2008 Forms 1099-B, 1099-MISC, and 1099-S. The correct due date for furnishing the 2008 Copy B to recipients is as follows:
February 17, 2009, for Forms 1099-B and 1099-S.
February 17, 2009, for Form 1099-MISC if substitute payments are reported in box 8 or gross proceeds paid to an attorney are reported in box 14. If no such payments are reported, February 2, 2009, remains the due date for furnishing Copy B of Forms 1099-MISC to recipients.
This change also applies to Form 1099-MISC, Miscellaneous Income, but only if substitute payments in lieu of dividends and tax-exempt interest or payments to attorneys are reported.
An incorrect due date is printed in the 2008 general instructions for Forms 1099, 1098, 5498, and W-2G, and in the instructions on the reverse side of Copy C of the 2008 Forms 1099-B, 1099-MISC, and 1099-S. The correct due date for furnishing the 2008 Copy B to recipients is as follows:
February 17, 2009, for Forms 1099-B and 1099-S.
February 17, 2009, for Form 1099-MISC if substitute payments are reported in box 8 or gross proceeds paid to an attorney are reported in box 14. If no such payments are reported, February 2, 2009, remains the due date for furnishing Copy B of Forms 1099-MISC to recipients.
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1 comment:
Great article. Thanks for the info, you made it easy to understand. BTW, if anyone needs to fill out a form 1099-MISC, I found a blank form here http://goo.gl/Fq56Sx. This site PDFfiller also has some tutorials on how to fill it out and a few related tax forms that you might find useful.
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