Anyone else missing a bunch of 1099's?

I think that's a bad idea. All the IRS has to do is compare what you claimed as gross revenue to what was reported digitally by your larger customers.

 

I like that some don't; got a couple outfits never asked me enough questions. They got a cellphone number and a first name & I got $12k out of one of them I can think of. Never invoiced, not a lot of paper trail.

Couple of em pay cash on delivery. I like those even better.

 

Here is the thing. If an IRS audits them for their write offs, and they include me. I don't have a 1099 or nothing sent from them so technically I didn't recieve that money, but if it comes down to it all the IRS would want is for me to pay it which at that point I gladly would.

 

I have a question for you all. The company I'm leased to gave me a 1099 for everything I grossed. They take my fuel, dispatch fee and insurance though every week from my check before they cut it. So, I never see that money. I would have thought my 1099 would have been for my gross less all that. Now I have to go back through all my pay stubs to be able to deduct those expenses. Is that normal?

 

Don't forget penalties , interest, and a possible criminal referral to DOJ.

 

Common practice

 

Yes, it's normal.

 

TECHNICALLY you received the money. In an audit, it would take the IRS about 3 minutes to find an unaccounted for $12,000 deposit. Cash? Better never deposit it, the banks electronically report large cash depositors on a routine basis.

If your shipper gets audited, and they claim an expense they paid to you and there's no accompanying 1099, it would take an auditor about 10 minutes to go down that rabbit hole and pull your ### out by your ears......... They may not be the sharpest knives in the drawer, but they see this stuff every single day.

If they are having a bad day, you're facing tax FRAUD charges. TECHNICALLY.......