I made a really stupid mistake on accident and forgot to file my 1099 NEC last year. I only worked half the year and then went on a long trip so the 1099 is only for a little under $10,000. What should I do? Should I just take it to my accountant when I go to file my taxes this year and explain to her the situation? Should I just pretty much expect to not get a tax return this year? On the other hand this 1099 was filed from my job that was a daycare. I’m being told this is illegal anyways as I have made an hourly wage I have a permanent work schedule I worked under her rules I was by no means an independent contractor? Does anybody have any insight?

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AutoModerator t1_j6p0oav wrote on January 31, 2023 at 9:51 PM

#1,684,601

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meamemg t1_j6p1ptn wrote on January 31, 2023 at 9:57 PM

#1,684,995

You'll need to file an amended return for last year and claim the money. You'll owe taxes, interest, and penalty on the amount you should have paid last year but didn't. I'd send that to your accountant now to try to get ahead of it.

[deleted] t1_j6p1tpu wrote on January 31, 2023 at 9:58 PM

#1,685,031

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atanvarne t1_j6p67q9 wrote on January 31, 2023 at 10:26 PM

#1,686,842

Are you saying you forgot to declare this income or you forgot to file at all? If you had no other earnings for the year, and no taxes were withheld by your employer, there's no obligation to file a federal tax return. The standard deduction is more than you made so you won't owe any taxes. That said, it's always a good idea to file but unless there's more to your picture you have nothing to worry about.