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I have been working as a 1099 sub contractor since 2006 for

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a large corporation. I when...
I have been working as a 1099 sub contractor since 2006 for a large corporation. I when I signed a contract with them they required that I be incorporated for some reason so that is what I did. I have grossed on average 60K per year since 2006 and they direct deposit the funds monthly into my business account. I receive a 1099 at the end of the year in my business name for the monies earned. Being a young procrastinator and not knowing the laws I neglected to file taxes and go so behind that I never did. I went to a new accountant who filed a 4506 on my company with the IRS and it came back VOID. Now she has filed a 4506 for my personal account to see if the 1099s were placed there for some reason. I have never received a bill or notice from the IRS asking for any monies owed. I am trying to get this back on track but she is baffled why they seem to have no record of the income and there has not been any SFR, or CP2000 sent to me. I even went and forwarded all previously known addresses about 6 months ago to my current address and still nothing. Any insight on this might be helpful. Maybe the payer made a mistake with my information or being a corp do not actually submit the individual 1099s to the IRS. Any help on this would be appreciated.
Submitted: 5 years ago.Category: Tax
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Answered in 12 minutes by:
12/2/2011
Tax Professional: Lev, Tax Advisor replied 5 years ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,132
Experience: Taxes, Immigration, Labor Relations
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Hi and welcome to Just Answer!

Normally - it takes about 1.5-2 years for the IRS to realized that no tax return was filled and send a notice about tax liability...

If the form 1099-misc is not reflected on your tax account - most likely it was never sent or was sent with a different tax identification number.


Since you received forms 1099-C from your employer - it is very likely that these forms were sent to the IRS as well - please verify what tax ID was used on these forms?
Did you provided your business tax ID instead of your SSN? - it is possible that forms 1099-misc were issued with your business tax ID.
Please verify.

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Customer reply replied 5 years ago
I received 1099 Misc since 2006 and never filed. The 1099s are sent in my LLCs name and EIN #. She sent form 4506 asking for my companies 1099 transcripts for years 2006-10 and it came back void. She has now requested the transcripts for my SSN as well to see if somehow they got placed on my personal account vs the business EIN. She thinks that somehow their computers did not pick it up or that the corporation issued 1099 to me but does not send individual 1099s listed payees to the IRS since it was a corp to corp transaction. I have never received any bills or notices and that is what is so baffling.

Tax Professional: Lev, Tax Advisor replied 5 years ago

There is no magic - if your employer did not send information under your ID - that information would not be in the IRS computer.

Most likely your accountant knows that - you need to use form 4506T - www.irs.gov/pub/irs-pdf/f4506t.pdf to obtain your tax account transcripts - not form 4506.

On the form 4506T - check the box 8 - Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript. The IRS can provide a transcript that includes data from these information returns.

Also the box 6(a) should be check d for Tax account Transcript.

 

I suspect that your employer did not issue forms 1099-misc to the IRS - and that was the reason they required to have a business entity.

That is why your income information is not in the IRS system and you never received any notices.

 

Please be aware that according to the tax law - you are required to report your income regardless if it was reported to the IRS or not.

So technically speaking - the fact of not reporting should not affect your filing requirements or tax liability.

Unfortunately based on very limited information - there is not much we could say.

Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 30,132
Experience: Taxes, Immigration, Labor Relations
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