Reminder: Forms 1099 to be Distributed in February, As Permitted by 2008 Legislation

(02/04/10) You may or may not be aware that the IRS deadline for postmarking Forms 1099 was January 31 for many years. However, the Energy Improvement and Extension Act of 2008, enacted on October 3 of that year, amended the deadline for furnishing taxpayers with 1099s to February 15. 

You may recall that this new deadline was used for distributing RBC tax forms last year, as communicated via a January 2009 News Express article. RBC will continue to use the new February 15 deadline going forward. This year, because that date falls on a national holiday (President's Day), the deadline falls to the following business day: February 16, 2010. 

Please note that the new deadline is not yet reflected on all of the forms on the IRS Web site. Understandably, this can create confusion for clients. You may wish to direct your clients to IRS Notice 2010-9, which provides greater detail about new deadline.

PLEASE NOTE; Amended 1099's have until March 15, to be mailed.

If you have questions about the mailing schedule for tax documents, please refer to the 2010 Tax Forms Mailing Calendar or call RBC Tax Operations at 866-812-7687.