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While we're at it, why is it that, in this day and age, 1099's don't get done until 31 January? Most of our accounts have on-line end-of-year statements so I can pretty much figure out our tax, but I don't necessarily have everything in the proper boxes. Why aren't the 1099's ready on-line at the end of the first week of January? My taxes have been mostly ready to go for 2.5 weeks, just waiting on 2-3 more 1099's. (Had two financial aid deadlines for 1 February, so had to fill out the FAFSA and the CSS PROFILE, which is even worse.)

Completing 1099s isn't as simple as you might think. Getting "everything in the proper boxes" is the problem. Some dividends get reclassified because the corporation didn't have enough profit. Entities such as REITs have to determine how much of their distributions are dividend/capital gain/return of capital and they can't do that until their books are closed for the year. Mutual funds can't determine the character of their distributions until they get all of the information from the investments they held. And there are other issues that sometimes affect the generation of 1099s.

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