My dad , who is 85, finished his taxes and sent them in a week ago..He's mentally intact, physically ailing, and it took him along time to do his state and federal taxes as he prides himself in doing them himself..He received a letter on the 13th, that tho they were "sorry for any inconvenience", his pension 1099 form with his income for the year was wrong. He received a new one that was updated 2 weeks after this material is to be mailed to you 1/31 . The letter was dated Feb 1, postmarked February 11th and received February 13th.. My dad had already mailed his taxes in..He was ill, being the honest man he is..I called the company and all they could say was they would reimburse him for the cost to have them amended..SO I asked them, where is the reimbursement for those who do it themselves! Do you know how long it took my dad to do them in the first place, and how long it will take him to amend all the numbers in the state and federal forms?? What happens to those companies who don't get the stuff out by jan 31?? We're penalized big time as taxpayers if we're not on time or if we underestimated a number- pay the amount plus interest you owe!! I told my dad to let the IRS notify you of the $800 difference..Of course he wouldn't and has spent the last few days redoing his return..In return he's had to listen to my mom who has Dementia rag on him constantly for finishing his taxes too soon..

I would submit a bill for your dad's time spent to rectify his return. You say you called and they will reimburse him the time. Submit.

Now, as for waiting for the IRS to call upon him, I wouldn't do it. It will only drag the whole unfortunate incident out longer, and, it's possible your dad will THEN owe the IRS interest.

dl

Good idea regarding submitting his time..Wonder how much an hour it costs to get them redone?? He's already redone the taxes being the responsible individual he is.

I can tell ya a well known nationwide tax company charges 85 dollars to ammend....

Hope that helps

Someone please correct me if I'm wrong........

The IRS is notified of the changes to the 1099 form. They will amend the return and send your dad a letter that the return has been amended to reflect the change.
I don't believe your dad actually had to do anything.

You are right that the IRS gets the 1099 info but her dad still needs to do something. If you have all the information it really souldn't take that long. I assume he did his taxes by hand and not with a program. He does have a copy, I hope, and you could make the changes with ease.

He needs to file a 1040X and if need be, pay what is owed before 4/15 so he won't have any penalty or interest added.

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I have OCCD
Obsessive-Compulsive Coupon Disorder!!!

They will notify you that there is a difference and it can take time for them to do that I have seen them take 1-2 yrs after the return was filed to alert a taxpayer to an issue like that.

To OP your Dad is doing the correct thing amending his return, if he was local to me I would have been more than happy to help him do it for free just so he doesnt have to deal with it. Maybe let him know the IRS has a list of trained Volunteers that can do taxes for free if you meet the income guidelines, here they do them at the Public libraries and the County Building and a lot of the Senior Centers do them also, I know he loves his freedom, but he should be enjoying the prime times in life not spending hours on taxes.

Also where I work its almost $100 to do a 1040X (amended return) it all depends on which form was originally filed I would bill the Company for your Dad's time its not right. They should NOT send out incorrect 1099's there needs to be a standard in the industry and penalties for things like this, there seems to be a really big run on late 1099's this year or corrected ones and I feel bad for the people who get them.

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~ Christine ~
Grammie to Trinity Lorayne Jean Keens Born June 9, 2011 Loving my awesome guitar picking 100% Country Boy boyfriend Kenny !
RIP Daddy~ 01/24/1930-06/01/2007 I miss you !
Dont Think you Can .. know you can ~ Jeff Hardy