1099 corrected form

[exquisate]

What is the name of your state? Florida

my husband received his 1099 form and we filed our taxes and got back a tax return. We opted to get our return immediatly through our agency we filed with, About 2 weeks later we receive a corrected 1099 form. We had to report the difference to our tax agency and now we owe back all the money and a few hundred more. Is there a law to protect us against situations like this through the employeer for not sending us correct 1099 form to begin with? It's not our fault. Now we will be penalized because we cant afford to pay back this type of money by April 16th ($5,000)

[Snipes5]

What prevents this from happening are a few things. 1) Keep track of how much you earn, and check it against the W-2's/1099's you receive. 2) Don't file in such an almighty hurry.

It is prudent to wait until after 15 February to file.

Snipes

[exquisate]

well we didnt think any of it never had a problem with anything in the past. So basically there is nothing we can do, just have to ask the IRS to make payments and if approved pay with interest and suck it up.

[LdiJ]

Originally Posted by exquisate

well we didnt think any of it never had a problem with anything in the past. So basically there is nothing we can do, just have to ask the IRS to make payments and if approved pay with interest and suck it up.

Basically yes. If your husband is self employed he is supposed to be keeping good business records. He is not supposed to be relying solely on 1099 forms to determine his income.