SSA form 1099

[S T]

It seems that some of the 2007 SSA form 1099's issued could be incorrect. I just received an email from the Calif Soc of EA

CSEA has learned of a Social Security Administration (SSA) error affecting 1099s mailed in January to approximately 2.9 million SS recipients.

The error, which appears to be nationwide, seems to affect SS recipients with Medicare deductions (Part D). The SSA has been made aware of the problem and plans to run corrected 1099s at the end of this week. No official press announcement has been made, although SSA spokesperson Leslie Walker, Regional Communications Director for California, confirmed to CSEA that the error has occurred and will be corrected. According to Ms. Walker, corrected 1099s should be received no later than January 29.

If you have clients who have received 1099s from the Social Security Administration, check the forms carefully before proceeding.

The California Society of Enrolled Agents will continue to monitor the situation and inform you of any updates.

Sandy

[veritas]

Nice

Should be helpful along with the two or three revised brokerage statements we're going to get.

[Black Bart]

Yes,

Should be helpful along with the two or three revised brokerage statements we're going to get.

just what we needed alright. I've gotten to the point where I try to hold off filing people with brokerage statements until April to keep from doing it all over again -- and now, this (SSA climbing on board)! If you can't trust the government, who can you trust (and that's no joke).

P.S. Great quote from the movie about Mac the bartender there, Veritas. My wife and I both always got a kick out of that seemingly incongruous line and trying to figure it out exactly -- maybe he meant that tending bar didn't leave enough time for anything else.

[sea-tax]

just what we needed alright. I've gotten to the point where I try to hold off filing people with brokerage statements until April to keep from doing it all over again -- and now, this (SSA climbing on board)! If you can't trust the government, who can you trust (and that's no joke).

P.S. Great quote from the movie about Mac the bartender there, Veritas. My wife and I both always got a kick out of that seemingly incongruous line and trying to figure it out exactly -- maybe he meant that tending bar didn't leave enough time for anything else.

BB How goes it?

Why don't you just file the client now , then file a 1040x when you get the corrected statements. Think you can charge twice and blame it on the gov't or one of the brokerage houses, either way people don't like them much anyways. You BB will be twice as profitible this year.

[Black Bart]

Hey dude,

BB How goes it?

Why don't you just file the client now , then file a 1040x when you get the corrected statements. Think you can charge twice and blame it on the gov't or one of the brokerage houses, either way people don't like them much anyways. You BB will be twice as profitible this year.

How goes it? Where've you been? Long time, no see/hear/whatever. Anyway, welcome back and I'm glad to hear from you.

Re 1040X; I suppose we could do that, but aside from the challenge to our ethics, I just hate those 1040Xs -- except in the summer, of course, when I'm economically-challenged. What I really like to do in the off-season is rake in a juicy Turbo-Tax redo case, prepare it at my leisure, and extract a few hundred dollars from it.

[Black Bart]

Hey Sandy,

It seems that some of the 2007 SSA form 1099's issued could be incorrect. I just received an email from the Calif Soc of EA - Sandy

Did the CSEA say if the error is in the amount of Medicare D paid or in the total amount of SS received? Or is just that those enrolled in Med D identifies those likely to have an error on their 1099?

I've got several clients with taxable SS, but if the amount that's wrong is only the Med D amount, then I can live with that 'cause most of them aren't itemizing anyway. If I knew the gross amount was right, most of them wouldn't be affected.

RSVP if you will. Thanks.

Bart

[S T]

Looks Like

Bart,

the error could be for recipients of Part D. See post above (2nd paragraph). So might be box 5 is not reflecting the correct amount.

The error, which appears to be nationwide, seems to affect SS recipients with Medicare deductions (Part D).

Sandy

[Gretel]

Sandy, Thank you so much for posting this. It's incredible that there is no news release. The government should be there for the people and not the other way round.