Seeking information on 1099 jobs

[Odonsky]

Thanks for the information everyone.

It is already Jan. 16 as of today, how much longer can I expect to wait before I receive a 1099 from the IRS? Shouldn't I have received something by now?

[JohnSoCal]

I was a 1099 Independent Contractor for several years.

You should have been paying estimated tax quarterly during the year if your tax liability for the year is $1,000+. Here is the official IRS link.

Estimated Taxes

You can be charged a penalty for underpayment if you did not file estimated taxes.

[dijkstra]

Originally Posted by Odonsky

Thanks for the information everyone.

It is already Jan. 16 as of today, how much longer can I expect to wait before I receive a 1099 from the IRS? Shouldn't I have received something by now?

You will not get the 1099 from the IRS, your employer fills out and gives you your copies of the 1099. He is required to send you a 1099 if you are paid over $600 for the year. He must either deliver it to you or have it post marked by January 28. He also submits a copy to the IRS for verification purposes.

As an Independent receiving a 1099, you are entitled to write off your expenses incurred in carrying out the job. These would include the mileage deduction for your vehicle if it was used in any way carrying out the job including any transportation as well as tools, materials, and even work clothes if they are used only for the job. You can also write off things such as medical expenses and use of part of your home as a home office. I would suggest using H&R block premium tax software which will ask you all of the appropriate questions and step you through them to determine what you can deduct.