I recieved a 1099-misc in the mail today. I've received other tax forms which I've had no issues with but today's one is very strange.
First of all I don't know who sent this. The payer's name is listed as "[company name] Declaration of trust" All of my listed information (name, address, SSN) is correct. Now here is the strange part" under box #7 "nonemployee compensation" is an amount of over $70k! To give your an idea of how crazy this is, I am 21 years old and haven't done any business related things. My parents are both working class and none of my relatives are wealthy, nor have any of them died recently. My name is very unique even for someone in my native country so I doubt this is a case of someone having the wrong letter sent to them. My question is, what could this possibly be? I'd like to think there is some trust out there with $70k for me but more likely there is some kind of mixup which will cause the IRS to think I owe them taxes on 70K that I do not have!
Thanks
First of all I don't know who sent this. The payer's name is listed as "[company name] Declaration of trust" All of my listed information (name, address, SSN) is correct. Now here is the strange part" under box #7 "nonemployee compensation" is an amount of over $70k! To give your an idea of how crazy this is, I am 21 years old and haven't done any business related things. My parents are both working class and none of my relatives are wealthy, nor have any of them died recently. My name is very unique even for someone in my native country so I doubt this is a case of someone having the wrong letter sent to them. My question is, what could this possibly be? I'd like to think there is some trust out there with $70k for me but more likely there is some kind of mixup which will cause the IRS to think I owe them taxes on 70K that I do not have!
Thanks
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