When to Expect Your 1099
- Gabby Bowman
- Feb 3
- 3 min read
By this point, you might be a seasoned professional on what tax forms you need and which ones you don’t. However, sometimes situations change, and you may receive one less or maybe two more than you did in the previous tax year. You might even be one of the lucky ones that receives a handful of these 1099 forms!
What you might ask each year is when you should expect to receive them. Some insist that the deadline is January 31st. Or maybe it’s February 15th? No matter when they come, you still will have to pay the taxes!
Here are some of the most common 1099 forms:
Common Forms 1099 | |
Form 1099-B | Sale of stocks, commodities, or other securities |
Form 1099-DIV | Income from dividends and distributions |
Form 1099-INT | Interest payments |
Form 1099-G | Payment from federal, state, or local government, including local tax refunds or unemployment benefits |
Form 1099-MISC | Miscellaneous income |
Form 1099-NEC | Nonemployee compensation |
Form 1099-Q | Payments from 529 Plans or other Qualified Education Programs |
Form 1099-R | Distributions from pensions, annuities, retirement accounts, or IRAs |
Form 1099-S | Income from real estate transaction |
Form 1099-SA | Distribution from Health Savings Accounts or Medicare Advantage Medical Savings Accounts |
Source: IRS.gov
Businesses, financial institutions, and even local governments all may have different times frames that they produce and send out the 1099 forms. They might all have different reasons for this as well. Some might still be balancing their books or others take longer to reconcile overseas holdings. No matter the reason, it can be frustrating not knowing when you will have them, and no one wants to feel pressed on time when it comes to the IRS!
Schwab produces and sends out the 1099 forms on a schedule starting late January all throughout February.
Here are a few things you can do while you wait for your tax forms:
● Make a list of Forms 1099 you expect to receive.Having an idea of what tax forms you should be receiving will help you immensely. Being prepared and organized will diminish the questions you have about what tax forms you need and why.
● Check your EWM Client Portal (Gabby’s Granary – More on that later!) or even your Charles Schwab online portal.Having the digital access to your 1099s can put them in your hands, in most cases, up to a week sooner than waiting for them in your mailbox.
● Watch out for corrected Forms 1099.Sometimes, a company may have a change to their previous years’ books which can create a Corrected 1099. If this happens to you, you should consult with your tax professional and take any necessary steps.
● Keep your address current.The IRS will get a copy whether you get yours, so make sure you have your correct address on file with Econ Wealth Management and we Charles Schwab.
Tax season can be difficult to navigate through, especially when it comes to making sure that you have everything you need when sitting down to do your taxes with your tax professional or if you do your own. Know that we are always here to help and do not hesitate to reach out if you aren’t sure if you have what you need or need help retrieving your tax forms.
Remember, this email is for informational purposes and doesn’t replace personalized advice. Be sure to consult your tax, legal, or accounting professionals before making any changes to your tax strategy.
Author: Gabby Bowman
Published: 2/3/2025