Hello, I'm Robert Todd and I'm here to discuss the issue of what happens to an employer if the employee fails to fill out a W-9 or a 1099. Well, first of all, let's understand that the W-9 is what the employer sends to the employee to obtain the name of the employee's business and the federal tax identification number of the employee's business. The 1099 is what the employer completes and sends to the employee to show the amount of income the employer paid that employee. And we're using the term "employee" rather loosely because actually it is more in the nature of an independent contractor or consultant that generates the W-9/1099 necessity. Employers are usually reluctant to do business with employees that don't fill out the W-9s because the employers can get fined for each 1099 that they should have prepared and didn't. I'm Robert Todd, and that's the W-9/1099 issue. Thank you for watching.
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Dispute a 1099 from a employer Form: What You Should Know
The IRS will contact the employer about the incorrect W-2 or 1099-GN when they file, but they will usually give you a year to correct it. It will be much harder for your employer to challenge your W2 on grounds of willful blindness or failure to file. If you disagree, try filing and The IRS will request the missing information as well. What to do if you are mistaken about W-2 filing. This is the most common form that is mistaken. If you are not mistaken, you can appeal to the Internal Revenue Service's Appeals Department and if you lose, you can appeal the decision to have the issue reviewed by a panel of judges. If you appeal the ruling that you are mistaken (and lose) the ruling will remain on your FAFSA, but the IRS will send you more information with a Form 1040X. If you do not file a correct W-2 and 1099 by January 31, 2022, the IRS will issue a 1099-F, but you will probably get it in the mail before a Form 1099-GN is sent to you. However, if you do file the correct W-2 and 1099-GN by the deadline, you may receive the new W-2 and 1099-GN by next spring. You will have the opportunity to request that the employer mail you a corrected W-2, 1099-F, or 1099-INT by January 31, 2019. Most employers make an error in filing these forms. If you are fortunate enough to find an employer who corrects their mistakes, you will get an extra bonus check for filing your taxes on time as well. The best way to contest an incorrect W-2 is if you have a complete copy of the Form W-2, and the employer's correct Form 1099-GN. These forms must match in order for the correction to go into effect for tax purposes. However, there are some things an employee can do to verify that the employer has corrected their error. The W-2 and 1099 are both required as part of the FAFSA in order to receive aid. If you need clarification and want help in the process, you can speak to a Financial Aid Adviser. A Financial Aid Adviser can help in reviewing your FAFSA, understand how your income is calculated, and make an accurate calculation of your eligibility.
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