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I expect to start receiving 1099s from all of our customers. I just toss them into the trash. I record every penny of income and expenses, and the 1099s are just redundant for me. It does tell me the IRS will know and be able to double check my numbers against the 1099.
It would be interesting to see how the computer programs process every return. I sure hope to never go through an audit again. We were audited in our second year of business. What a total waste of time and money. In the end, they found on error on my part and it was under 30 bucks. They admitted it would cost more to open the returns and change them and process a payment than the 30 buck so they let it slide.
At least I got to write off the cost of two reams of paper, a new printer, and the large chunk I paid to my CPA for advice the next year.
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Glen
49 Year member of the Porsche Club of America
1985 911 Carrera; 2017 Macan
1986 El Camino with Fuel Injected 350 Crate Engine
My Motto: I will never be too old to have a happy childhood!
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