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Megan C
Megan C, Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16544
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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Going thru audit...found out that my office manager never sent

Customer Question

Going thru audit...found out that my office manager never sent out 1099 or 1096 for 2011, now what can I do?
Submitted: 2 years ago.
Category: Finance
Expert:  Megan C replied 2 years ago.

Megan C :

Hello, thank you for your question. My name is Megan and the expert you requested is not online. I would be happy to help you

Megan C :

Unfortunately, in this situation you would have a penalty for each 1099 that was not sent out. It's not really something you can go in two years later and file, because the people who received the 1099 have already done their tax returns.

Megan C :

The best thing that you can do in this situation is just be honest with the auditor about your findings, and work with your tax professional for an abatement of penalties for due cause.

Megan C :

If the auditor wants you to file the forms, then you should just prepare them and give them to the auditor.

Megan C :

Please reply to me and let me know if you have further questions.