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1099 IRS Revised Deadlines

Tuesday, 09 February 2010

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Just a quick blog to let you know that the IRS has revised the upcoming delivery deadline for 1099 tax statements for the 2009 tax year from January 31 to February 16, 2010. The IRS increased the deadline in an effort to reduce the number of 1099 revisions that many mutual fund clients receive. Last year it was not unusual for clients to receive 2 or 3 revisions. The revisions are mainly due to the reclassification of dividends from qualified to non-qualified and vice-versa. The custodians we use, TD Ameritrade and Charles Schwab, are making the 1099's available on-line and mailing them out by 2/16/2010. If you do not receive your 1099, go on-line to the document section and click on tax forms to see if it is available. Or you can call or email us and we can send it to you via email or fax.

About the author

Carol Somoano, MBA, CFP®

Carol Somoano, MBA, CFP^®Financial Advisor

Carol Somoano, Vice President of Asset Planning Inc., is a Certified Financial Planner, CFP^®, and is responsible for portfolio and financial plan analysis. Before Carol joined API, Inc in 2005 she worked as a management accountant for 15 years before deciding to concentrate on financial planning. Carol obtained her B.S. in accounting from Cal Poly Pomona and her MBA from Cal State Fullerton. She completed the UCI Financial Planning program and passed the CFP exam in March of 2004. She is also a Notary Public and Realtor^®.

She is an active member of the Orange County Financial Planning Association and has participated in the OC Register Annual Financial Planning Hotline. She is an active volunteer in her community and has received an Honorary and Continuing Service Award from the California State Legislature in 2003 and 2007.

Carol’s core values are client-focused, emphasizing long-term relationships built on confidence and trust. She works diligently to increase her client’s net worth, plan for their future, and ultimately enhance their lives today.

Carol's hourly financial planning rate is $250. Carol's portfolio management fee is a maximum of 1% and is discounted for portfolios over $250,000.

PH: 714-827-5794 | Email Carol

Asset Planning, Inc Blog

1099 IRS Revised Deadlines

About the author

Carol Somoano, MBA, CFP®

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