> Finally, the cherry on top - gigster, like other shops that hire contractors, is required to send a 1099 to the contractor and to the IRS by January 31st. As you can imagine, they've kinda failed here too. A lot of people didn't get their 1099s and a lot of people are reporting errors on their 1099s. It looks like they outsourced this out and whoever did it messed up transferring data from contractors' W9 into the 1099.
> For example, if you received miscellaneous income in 2016 that is non-employee compensation, the paying institution or individual must issue Form 1099-MISC by January 31, 2017. If the institution fails to do so, the penalty against the company varies from $30 to $100 per form ($500,000 maximum per year), depending on how long past the deadline the company issues the form. If a company intentionally disregards the requirement to provide a correct payee statement, it is subject to a minimum penalty of $250 per statement, with no maximum.
> For example, if you received miscellaneous income in 2016 that is non-employee compensation, the paying institution or individual must issue Form 1099-MISC by January 31, 2017. If the institution fails to do so, the penalty against the company varies from $30 to $100 per form ($500,000 maximum per year), depending on how long past the deadline the company issues the form. If a company intentionally disregards the requirement to provide a correct payee statement, it is subject to a minimum penalty of $250 per statement, with no maximum.
https://www.irs.gov/government-entities/federal-state-local-...