Report flags / 1099-NEC
NUMBERS“The 1099 is for a year that hasn't started”
What this flag on a 1099-NEC means, why it matters, and what to check.
What it means
The form's tax year is later than the current year.
Why it matters
A 1099 reports payments already made in a year. One for a future year can't exist.
Ordinary explanations
- None in a real form.
What to check
Ask the applicant for the IRS wage and income transcript (free at irs.gov or with Form 4506-T), which lists W-2 amounts as the employer reported them.
A flag is a reason to verify with the source, not proof. Apply the same steps to every applicant.
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