1099 Filing Date Changed

[BOB W]

The recent bailout bill extends the date by which brokers must furnish information forms to customers. This includes Form 1099-B and also other forms from brokers, including realtors. Beginning with statements furnished in 2009, brokers will avoid penalties if they furnish these forms on or before February 15, as opposed to the previous due date of January 31.

If you remember, IRS will be issuing penalties for late filed information returns, so this will start soon.

[les grans]

Is it only forms 1099 *from brokers* or are many of the 1099s due dates extended, i.e., those from *other than* brokers?

[BOB W]

Is it only forms 1099 *from brokers* or are many of the 1099s due dates extended, i.e., those from *other than* brokers?

http://www.irs.gov/pub/irs-pdf/i1099gi.pdf

Check out page 4 ??????

[DonPriebe]

http://www.irs.gov/pub/irs-pdf/i1099gi.pdf

Check out page 4 ??????

That instruction was published in February of 2008; the "bail-out" bill was only passed this month.

[Kram BergGold]

Thanks for your post

I saw this item in the NATP email mail newsletter. However, I kind of blew it off thinking it was about the broker's need to report basis in 2011 or 12. For me, this change will mean a later start on a few clients tax returns. Again, thanks for the heads up.