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Equifax and Bank of America have both filed 1099-misc forms…

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Equifax and Bank of...

Equifax and Bank of America have both filed 1099-misc forms saying they provided me with miscellaneous income in 2017. I have received no income from either. Attempts have been made by me to correct this but both met with a stone wall. Seems they are hiding from me. I have included a statement to my CPA stating that I did not receive any income from BOA or Equifax with instructions not to include it as income on the tax return. The amounts were $36K [BOA] and $4K [Equifax]. I am concerned that this will cause me trouble with the IRS. What should I do?

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Georgia

Lawyer's Assistant: What steps have you taken so far?

Attempted to communicate with Equifax and BOA. Hit with a stone wall to the point Equifax refused to continue the conversation on live chat - Equifax refused to let me even talk to the department that issues the 1099s.

Submitted: 4 months ago.Category: Consumer Protection Law
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Answered in 5 hours by:
3/21/2018
Consumer Protection Lawyer: Ely, Counselor at Law replied 4 months ago
Ely
Ely, Counselor at Law
Category: Consumer Protection Law
Satisfied Customers: 103,583
Experience: Private practice with focus on family, criminal, PI, consumer protection, and business consultation.
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Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. There is no specific course of action is proposed and no attorney-client relationship or privilege formed within this conversation. (You may also be offered a phone call, but those don’t come from me and are offered by the website and you are under no obligation to accept.)

I am sorry to hear about this situation. This happens more often than you'd think. Individuals in your situation then should do the following:

1) Deduct the income that you have not received on one of the "other" expense lines, describing it as either "Not Constructively Received in 20___" or "See Statement;"

2) On the "Statement," one explains clearly why the amounts on the 1099s should not be counted. Example: "Income never received," or "Error on issuer's part - never 1099 contracted with that company and no income received," etc.

"I STRIVE FOR FIVE!" My goal is to answer your question to your satisfaction. Please rate with five stars (★★★★★) and click SEND. It does not cost anything extra to rate. You may need to scroll left/right/up/down to see these stars. Rating my answer the bottom two stars or failing to submit the rating reflects poorly on me, even if my answer is correct. If you are not satisfied for whatever reason, or, have follow up questions, please simply reply with SEND before or after rating and let's continue to chat until you are satisfied. This is what I am here for.

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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