A s a business owner, receiving my 1099s each year puts me in the mood to start preparing my taxes . But what if the income on the 1099 misc does not match income received? What Should You Do with an Incorrect 1099? In short, if you receive an incorrect 1099, reach out to your client and try to correct it. If this doesn’t work, contact the IRS at (800) 829-1040 for instructions. You may have to include a letter with your tax return stating why there is a discrepancy. In this article, I’ll answer some more questions regarding 1099s. Including what to do if it’s incorrect, it is duplicated, or missing. An Example: 1099 Misc Does Not Match Income Received Now for a helpful example… Last year, my friend Jason did some independent contractor work for a venture capital-backed company in Houston, about four or five hours away from his home in the Dallas-Fort Worth metroplex. He would travel and stay in Houston on the weekdays and return home on weekends. Jason paid for his expenses
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