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1099 Income
Just checking to see if I'm off my rocker.
I've run a business for the past 20 years.
I know that when I issue 1099's to individuals or businesses, it if for transactions that occurred in the business year, WHEN THEY ARE PAID.
So, if vendor A does work for me in December of 2007 and I pay him in January 2008 for that work, that income would NOT appear on a 1099 that I send him for 2007.
I just received a 1099 from my local assigner, and it not only includes jobs that I did in 2007 but did not receive payment for until 2008, but also games that I did in the first week of 2008!
Is this a prevalent practice in the referee world?
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