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Financial Planning / Tax Strategies
|Subject: Re: 1099s from brokerages and the newest tax law||Date: 2/6/2013 7:07 AM|
|Author: irasmilo||Number: 117648 of 121219|
Okay, so brokerages will always have until Feb. 15 and banks still need to get their 1099s in the mail by Jan. 31?
Is that how the tax laws stand now on the 1099s?
Sort of. The full details of distribution deadlines for 1099 series forms can be found in General Instructions for
Certain Information Returns, http://www.irs.gov/pub/irs-pdf/i1099gi.pdf. The mid-February deadline applies to 1099-B, but not 1099-INT or 1099-DIV. However, if a reporting entity issues a consolidated 1099 (1099-INY, 1099-DIV, 1099-B, etc., in one document) it must distribute statements by the later deadline.
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