Apparently it looks like National Paralegal and Notary is out of business…so what will happen with any 1099 forms? Should I start requesting it from them now so I get in time for tax time?
I haven’t been in a situation like that; I don’t know the best way to get a 1099 form. But you really don’t need one; you should have your own records that will allow you to report the income you received from them.
Taxpayers who don’t have their forms in hand come April may be worried about having to pay a late filing penalty, but filers have several ways to avoid an incomplete return.
First, a taxpayer who is waiting on a W-2 should contact their employer if the form wasn’t received by mid-February. A taxpayer waiting for a 1099-NEC should contact the person or entity they did work for. The taxpayer should attempt to contact the payor before trying the next step.
Second, if the employer or other payor doesn’t comply or can’t be reached, the taxpayer can call the IRS at 800-829-1040 for assistance. Before calling, the taxpayer should have the following information ready:
- Their name, address, phone number, taxpayer identification number aka SSN, and dates of employment
- Their, employer’s name, address, and phone number, and identification number (if known)
Considering the high volume of calls to IRS customer support centers, taxpayers should contact the IRS sooner, rather than later.
The IRS will then attempt to reach the employer or payor to request the missing form(s). You may need to file Form 4852, Substitute for Form W-2, Wage and Tax Statement, or Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc., which the taxpayer would attach to their return if the IRS fails to retrieve records from the employer.
A Form 4852 should be filed if all else fails and the requested form is not obtained on time. A Form 4852 filer must include information on themselves, their employer, their Form W-2 or Form 1099-R information (to the best of their knowledge), how those amounts were determined, and what efforts were made to receive either form. The Form 4852 filing instructions recommend that taxpayers use information on their last paystub of the year.
You can also set up am IDme account with IRS. This will get you access to your tax information, including any 1099s that were files by the Signing Service. SS that are out of business are still required to file information returns regarding your income.
You can down load a copy of Form 4852 from the IRS at About Form 4852, Substitute for Form W-2, Wage and Tax Statement, or Form 1099-R, Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc. | Internal Revenue Service
If you have questions you can engage the services of a qualified Tax Professional.
@jajohn Excellent Question!
It will be in your best interest to visit the official site for the specifics to take action on regarding the form, requirements, announcements, revisions, action to take if you haven’t received it, etc.
Here is the direct url:
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Regarding penalties, check here:
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Or, definitively the optimum path to take would be to reach out to your tax consultant/advisor for assistance in this regard.
Having the 1099 or filing Form 4852 is to make certain your SE taxes are credited to your Social Security account. Your SE wages and Taxes are used to determine your SS and disability benefits.
You can file Form 4868, Automatic Extension to File, to avoid a failure to file penalty. Form 4868 does not grant an extension to pay. You’ll still need to pay any taxes due by the April filing deadline.
As always, seek the advice of a qualified tax professional as each person’s tax situation is unique.
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