Expatriate status after returning to India
Posted: Fri Feb 06, 2015 2:09 pm
When you are in doubt, and using your December statement (of whatever account) to file the US tax forms...... just make sure you never under-report your income.... that would be reported on a 1099 form.
[QUOTE]source
You should want to know about each Form 1099 you receive. In my opinion, though, if you don?t receive a Form 1099 you expect, don?t ask for it. Just report the income. Reporting extra income that doesn?t match a 1099 is not a problem. Only the reverse is a problem.
One possible exception? The IRS suggests that if you don?t receive a Form 1099-R, you should ask. However, don?t ask about most 1099s, including the common Form 1099-MISC. Why do I suggest not asking?
If you call or write the payor asking for a Form 1099, the payor may issue it incorrectly. Alternatively, you may end up with two, one issued in the ordinary course (even if you never received it), and one issued because you asked for it. The IRS computer might end up thinking you had twice the income you really did.
[QUOTE]source
You should want to know about each Form 1099 you receive. In my opinion, though, if you don?t receive a Form 1099 you expect, don?t ask for it. Just report the income. Reporting extra income that doesn?t match a 1099 is not a problem. Only the reverse is a problem.
One possible exception? The IRS suggests that if you don?t receive a Form 1099-R, you should ask. However, don?t ask about most 1099s, including the common Form 1099-MISC. Why do I suggest not asking?
If you call or write the payor asking for a Form 1099, the payor may issue it incorrectly. Alternatively, you may end up with two, one issued in the ordinary course (even if you never received it), and one issued because you asked for it. The IRS computer might end up thinking you had twice the income you really did.