|Sat Apr 7 2012 12:49:24|
Seller Gets 1099K from PayPal 9 Days Before Tax Deadline
By: Ina Steiner
Dear Ina, |
Thought you should know that today, Friday April 6th, I received a 1099k form from PayPal - 9 days before taxes are due!
When I contacted PayPal, I was told "this is the first year we are sending put forms" and "we made a mistake". This form is for a second account that we no longer use. I did receive a form on January for my current account and I did call in January to ask if I would be getting a form for the other account - which I was told probably not, but if so, it would be sent out very soon.
Guess I will be spending this weekend redoing my taxes because PayPal "made a mistake" and didn't send the form on time.
There is normally a deadline of January 29th for 1099k's to be mailed, but the IRS site states the deadline has been revoked due to problems with getting these forms sent out on time (because of the new regulations).
I'm a casual eBay seller, but this year was good and we were lucky in our sales, so this is the first year dealing with taxes, etc.
Have you heard from other PayPal users on this delay?
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