Important Information for Tax Season 2012

 As you prepare for the 2012 tax season, here is some information that you may find beneficial.

2012 Form 1099 mailing schedule

  • 1/31 - Mailing of original Form 1099s
  • 2/28 - Begin mailing delayed and amended Form 1099s
  • 3/15 - Final mailing of any remaining delayed original Form 1099s

Please note the exceptions immediately below:

Delayed Form 1099s

In an effort to capture delayed data on original Form 1099s, the IRS allows us to extend the mailing date until March 15, 2013, for clients who hold particular investments or who have had specific taxable events occur. Examples of delayed information include:

  • Income reallocation related to mutual funds, real estate investment, unit investment, grantor    and royalty trusts; as well as holding company depositary receipts
  • Processing of Original Issue Discount bonds
  • Cost basis adjustments

Amended Form 1099s

Even after delaying your Form 1099, please be aware that adjustments to your Form 1099 are still possible. Raymond James is required by the IRS to produce an amended Form 1099 if notice of such an adjustment is received after the original Form 1099 has been produced. There is no cutoff or deadline for amended Form 1099 statements. The following are some examples of reasons for amended Form 1099s:

  • Income reallocation
  • Adjustments to cost basis (due to the Economic Stabilization Act of 2008)
  • Changes made by mutual fund companies related to foreign withholding
  • Tax-exempt payments subject to alternative minimum tax

How we can help

If you have questions about your 1099’s or it would be helpful for us to discuss your tax situation with your accountant or CPA, please let us know. We are here to help with both administrative questions and planning strategies. We’ll also proactively work to keep you informed as to the status of your 1099 in the coming weeks and months.

What can you do?

If you receive an amended Form 1099 after you have already filed your tax return, you should consult with your tax advisor about the requirements to re-file based on your individual tax circumstances.

Links that may be of interest

Stay posted for additional information from Raymond James at

Are you importing your 1099 into TurboTax®? Details on RJ import at

Tim Wyman’s blog post: “How Will the Fiscal Cliff Deal Impact You?”

Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. Raymond James financial advisors do not render advice on tax or legal matters. You should discuss any tax or legal matters with the appropriate professional.