Expect Late 1099’s This Year

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The Emergency Economic Stabilization Act of 2008 extended the required mailing date for Form 1099-Composite from January 31 to February 15. Due to Presidents’ Day on Monday, February 16, 2009, the required mailing date will be further extended to February 17 in 2009. I expect many of the brokerage firms will take advantage of this delay this year.

I personally have already received notice from Charles Schwab that they will not be mailing 1099’s until mid-February.

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