Fresh when it gets here from
Julie Barrett
Monday, February 2, 2015
Well, before I get off my tail and get to work, I have a couple of things to get off my mind.
If you don't have your 1099s by now (if you're owed one or more), you should be getting them in the mail this week.
Please check those 1099s carefully against your checks.
If your publisher (or contract employer) sends a check at the end of December, that's taxable income for the previous year, even if the check didn't arrive until after you paid your quarterly taxes.
That happened to me once. Fortunately, it was a small check, so it didn't cause problems. There was certainly no malice involved, either. The check had been lost in the mail and there were several postmarks on the envelope marking its journey across the country and back to my P.O. box - a 45 minute drive away from the company that issued the check!
I mention this because I've heard tales of places sending large checks dated before the end of the year, but mailed weeks later. I'm no lawyer or accountant, but if that happened to me, I'd be talking to the IRS and doing everything I could to avoid a penalty.
If that happens to you, please seek advice.
No I've got stuff to do.