Tax law changes may delay some 1099s this tax season

Tax law changes may delay some 1099s this tax season

A tax law enacted last year changed how certain income is reported to customers, which could cause some banks, brokers and mutual funds to deliver tax reporting information to investors later than normal. In previous years, banks, brokers and mutual funds sent the tax forms known as 1099s in late January, but had to deliver millions of new, corrected forms in February, March and even April. With the new tax law change this year, even more corrections were expected. Instead of increasing the number of mailed corrections, some banks, brokers and mutual funds have asked the IRS for an extension, and will instead deliver their 1099s to customers in February.

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