Thread: 1099 Nightmare
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Jim Stewart Jim Stewart is offline
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Default 1099 Nightmare

toolbreaker wrote:
The company I work for has a policy of rewarding patents with cash
awards. No one ever got rich on the awards but over the years it has
paid for my modest machine shop. At the end of the year we receive a
1099 form showing how much we were awarded.

This year I opened the 1099 and it shows $500K. NIGHTMARES about the
$150K in taxes the IRS thinks I owe.

Go into work and I have an email says ops we misplace a decimal
point. Correction will be arriving shortly.


Tell them there's another way to fix the problem....

I think I am going to frame the faulty 1099. Coworker is going
to leave his in his important papers for his kids to find after he is
dead.