Quote:
Originally Posted by famous
1099's must be postmarked by Jan 31 according to the US tax codes. This rerely happens. US webmasters you need to keep track of your own payments. Do not rely on 1099s. I use around 40-50 sponsors and have gottenmaybe 4 1099s. Where the other ones are no clue but i will still report my earnings even if i dont get one. YOu still need to report overseas sponsors as well. The US goverent knows what you put in your checking/savings account and if you report say 70k and deposite 140k well you are simply gonna get flagged for a audit then be prepapred to explain where that other 70k came from. simple and short YOU need to keep track of your earnings not rely on 1099s.
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Yes..I do this.
It's just that an official tax doc needs to be reported (1099), and if they are not here in time, I am stuck doing an amendment. After 9 years in this biz, I fully understand the importance of reporting every little penny.
For those who have not done this before, please read the above post. Famous knows what he is talking about.