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How to do 1099's?

Unreported Income and 1099s and W2s?

  • Daschle and Geithner cases reveal a serious problem with 1099s and W2s. Why don't I hear anything about this problem? I cannot believe that the neither the "New York Investor" nor the World Bank failed to issue 1099s. There should be a huge fine and criminal implications to those paying out the money and failing to file the appropriate forms with the IRS. If Daschle and Geithner had received copies of 1099s that had been filed with the IRS, would we have had these distractions?

  • Answer:

    The World Bank is an international organization that is not subject to United States tax law. The IRS cannot force the World Bank to issue W-2s or 1099s because the IRS has no jurisdiction over it.

John B at Yahoo! Answers Visit the source

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