Embrace the pain of taxes. Be right. Be accurate. Disclose everything. But should something have been, um, omitted...., there is still an option: just file an amended return.
Like when you're telling your significant other about your trip to Las Vegas, and suddenly arms cross and eyes harden. You realize your story isn't going well. At that point, the reality TV shows have the main characters go ahead and file an amended story.
Basically, if you filed a tax return with the IRS (or with state authorities) and notice later that some error crept in, the way to correct the error involves filing an amended return. This lets the tax people know the new information. You'll still have to pay any difference in the amount of tax you owe. But it's better than letting the tax people find it on their own. That tends to make them very, very mad. Like when your significant other learns about your trip to Vegas from someone else.
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Finance: What is a 1099?0 Views
Finance, a la shmoop. What is a 1099? Well it's a tax form for the rest of us the
non fully employed, the non recipients of crappy health care and benefit plans, the [Man looks shocked at his medical bill]
non recipients of fancy corporate business cards those of us who choose to [Business card for Brett Corporate]
go it on our own as consultants, contractors, day laborers and
independents who self employ under the yoke of many masters trying to make our [A contractors diary]
own little way in the world, yeah. Corporations who hire contractors in
whatever form, must deliver to those contractors a form 1099 which outlines [Corporation giving out 1099s to contractors]
and stipulates the details of the job performed for the contractee. That 1099
is a direct conduit to the IRS holding out their arm to shake your hand and [The form 1099s are sent to the IRS]
then turning it 90 degrees to the right. [IRS's hand out expecting something]
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