1099 Filing Deadline

[KateSmithPA]

I was opening up investment statements and included with the statement was a letter from the investment company. The letter started out, "The Economic Stabilization Act of 2008 contained a provision that extended the date by which Form 1099 must be mailed to February 15."

This is the first we have heard of this. I tried to find an answer at the IRS web site but was unsuccessful.

Does this apply to all 1099 filings, or does someone know if this is specific to brokerage firms?

Thank you.

Kate Smith

[pmacduff]

Boy Kate, I haven't heard either, but that would be great for me as I just found out today that the software vendor we use is "hoping" to have the 1096 forms ready by the middle of this month! We send out a LOT of 1099-R forms. We have those all loaded up, but the 1096 isn't yet available.

We send the whole package to the Employer for review and then they mail out the participant copies (of course due by 01/31) and then sign and mail the Employer filing by 02/28.

If I can't have the 1096 forms in time for a timely mailing from me to the Sponsor (for them to mail the employee copies timely); I'm afraid I'm going to have to do 2 separate mailings this year...YUK! (not to mention the added expense of 2 mailings)

We are in the small plan market, but I have a bunch of Employers with 40 - 50 forms.......

[Everett Moreland]

See Notice 2010-9, here: ftp://ftp.irs.gov/pub/irs-drop/n-10-09.pdf

The reference in Notice 2010-9 to the Energy Improvement and Extension Act of 2008 is to Division B of the H. R. 1424, here: http://frwebgate.access.gpo.gov/cgi-bin/ge...1424enr.txt.pdf.

The Emergency Economic Stabilization Act of 2008 is Division A of H.R. 1424.

[KateSmithPA]

Thank you, Everett. I figured it was too good to be true!

Kate Smith