Since taxes need to be filed quarterly would a 1099 form be mailed out quarterly, as well, by the company?
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You can download that 1099 form off the IRS site at any time. You can also calculate the taxes you owe by downloading the 1040 guide/doc and going through it. If you dont want to do the calcs yourself, you can pay an accountant to do it. Try to get a competent accountant because if your accountant screws up, the IRS is coming after you because you signed off on your tax declaration as complete and accurate.– Vietnhi PhuvanSep 12, 2014 at 14:34
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1 Answer
No.
1099 forms are sent by the buyer/company between the end of the calendar year and Jan. 31st.
You must keep track of your own receivables in order to make your estimated tax payments.
If it helps, the IRS provides a worksheet to estimate your payments in the same document as your 1040-ES form
answered Sep 12, 2014 at 13:44
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Since taxes need to be done quarterly with 1099's why do they only send it out annually? That seems rather like "you need to renew your drivers license once a year but we will only give you the info on how to renew once every ten years". ie. it seems extremely unhelpful.– neubertSep 12, 2014 at 14:39
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Some taxpayers who get W-2's have to file quarterly. They only see the W-2 in January. Sep 12, 2014 at 15:19
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The quarterly estimate form's not too bad @neubert, if you need help with the overall scope of everything you can hire a CPA, as I did, their rates were much more reasonable than I was expecting. Sep 12, 2014 at 16:02
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1@neubert - I think you are missing the point. The 1099 is not to help you do your taxes. It is the company reporting to the IRS what you've been paid. The 1040-ES is your estimated payments, which you need to calculate yourself. The 1099 is for the government's benefit, not yours. You get a copy as a way to verify what they reported is accurate and truthful. Sep 12, 2014 at 18:45