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Received 1099 By Mistake


tanker31

Question

To my surprise yesterday, I received a 1099 for misc. income for the amount of $162,500.00 from a former employer ( wish I had made that money--but I did not ). It will not be a problem to have it rectified with the company that sent it, however I KNOW it will be noticed by the VA when they do their checks with IRS, Soc.Sec., etc... My question is How do I head them off at the pass, so my disability check and benefits do not stop while I am in the process of having it rectified? Should I contact someone in advance and let them know that the 1099 ( as well as the income ) is not mine. I want to stop it before it becomes a snowball rolling down hill. I am sure it is a mess, once they stop benifits, and have to start over. Looking for some suggestions. ( Iam 50% PTSD, 10% tinnitus=100% IU.

Thanks

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I would call my company, and I would tell them that I want the money, that they gave me a 1099 for, now. I would ask the company to kindly correct the error immediately or produce the funds. I would also let them know that they are completely responsible for any consequences of there errors.

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  • HadIt.com Elder

I am not sure how I would handle it, maybe one of the older guys have an idea, I would think you might want to get it copied and I would get the employer to send you a letter immediately to take to the VARO and get copies made of it and get it stopped before like you said they catch it and you spend months if not years trying to get it straight.

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As you have done contact the company and have the 1099 corrected. You should get a corrected copy for the IRS. But has far as the VA it should take them a while to figure it out and you would have it fixed by then. The VA "usually" checks social secuity wages which would have been reported on W-2. Social Security will not have the 1099 info until you file a tax return and claim what ever portion was earned if any.

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  • HadIt.com Elder

Its hell to get a 1099 corrected. In fact the IRS will not believe you and you need to get the Company to do it. I would go there or talk to someone and get an explanation as to why that was done.

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