How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard - Bizlaw Your Own Question
Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 10648
Experience:  30 years of corporate, litigation and international law
Type Your Business Law Question Here...
Richard - Bizlaw is online now
A new question is answered every 9 seconds

I received a 1099 in January 2012, but it was dated December

Resolved Question:

I received a 1099 in January 2012, but it was dated December 31,2011. It was made out to my new company which was incorporated January 3, 2012. The company that subcontracted my company wanted to clear out its account for tax purposes. Will their be any problem with my paying any appropriate taxes on this money with my 2012 returns?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard - Bizlaw replied 5 years ago.

bizlaw :

Was the income earned by you individually for 2011? How much money are you talking about?

Customer: $20,000 earned my my new S corp. That check covered services rendered from
Customer: 11/15/11-2/28/11
Customer: Pardon me the second date should read:2/28/12
bizlaw :

Probably nothing will occur if you pay the taxes in 2012 although you should reflect the earnings that were generated in 2011 in a 2011 tax return. However, at this late date, I would just wait until the 2012 return is due and reflect all the income from both years in one year.

If you need further help please do not rate 2 stars/faces "Helped a little" or 1 star/face "I expected more".This is considered a negative rating against me.

Just reply to me via the "CONTINUE CONVERSATION" or "REPLY" button with the questions you have as I receive no compensation for my efforts for the lowest two ratings.

Please keep in mind that I am trying to help you understand and resolve your situation. I don't make the laws, I am just reporting or interpreting them, so the outcome may not be what you had hoped for.

If this answer is responsive to your question, please accept it by giving a three stars/faces or higher . That is how we are compensated. I would also be appreciated if you provided feed back on your view of the answer. Finally, if the answer was especially helpful you can provide a bonus. If I can be of further assistance or you have other questions in the future you can ask for me and reach me at this site.

This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication

Richard - Bizlaw and other Business Law Specialists are ready to help you