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i owe 1099 thats not been reported

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workingprogress
Regular Contributor

i owe 1099 thats not been reported

I'm currently filings bank rupture. I turned in my w2 from past 4 years. My taxes has been messed up. The last i filed was 2015 and  2016 and not got nothing back. the people that filed them has them all messed up. anyways I turned those in and they asked for w2s from 2017 and 2018. All thats turned in and everything was good to go. Now i see in paypal there is 1099 fourm showing that i didnt report.  i have helped these people sale stuff online. they provide the goods and i just listed and sold for a small cut. A lot of it was sold through my name and now i got a 1099 from thats not filed. Will this not being reported mess up my bankrupcty ? Like will this pick up on this and will i get in trouble for not reporting it ? i'm worried to death with all this. i was all ready worried tod eath and now i am even more. Any advise guys ?

Starting Fico scores 6/29/1013
Experian 584 / Equifax 639 / TransUnion 598
Message 1 of 4
3 REPLIES 3
FireMedic1
Community Leader
Mega Contributor

Re: i owe 1099 thats not been reported

If you havent filed yet. Get it and turn it in. All BK's want past transcripts up to the last year filed. No one here will tell you to break the tax or BK laws. Must have had a good thing going. You only get a 1099 from eBay for:

"If you’re a managed payments seller and have more than 200 transactions and generate more than $20,000 in sales in a calendar year, you'll receive a Form 1099-K from eBay"


Message 2 of 4
workingprogress
Regular Contributor

Re: i owe 1099 thats not been reported

Thank you for the reply. To be clear I have not filed my 2017 or 2018 taxes. I didnt know I even had a 1099. I turned in everything they asked for that i knew about.  I'm not trying to be shady and break any laws. I'm just asking if i dont report this will it cause any issues with my BK. I got started with this online selling stuff with this pallet place and wasnt thinking straight. I was thinking they was taking care of everything tax wise for the most part since they wanted strict track of everything for their records. I wasnt thinkig straight. Not at all!  I see why now having paypal was part of their requirment. It help lesson their tax issues at the end of the year. Now they closed up shop and i'm left with this 1099. What a fool i am. I feel like giving up. Now i'm worried that if i do go report the issue they going to think i had a lot more income then i reported and thats not the case. I'm stressed to the max.overwhelm with it all. God please help me.

Starting Fico scores 6/29/1013
Experian 584 / Equifax 639 / TransUnion 598
Message 3 of 4
FireMedic1
Community Leader
Mega Contributor

Re: i owe 1099 thats not been reported

Put everything aside. Please fill out your 2 yrs of tax returns ASAP. You'll get penalties and interest taken from your refund. If your owe. Jump on it before they throw a lein in there. You can discharge income tax over 3 yrs old and other stipulations. The IRS doesnt play. Talk to your lawyer about the whole situation would be best. Even going after the people you got stuck paying the 1099 on. They owe you that. Sue em.


Message 4 of 4
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