> OK, think I need to clarify something here. If retainage has not been paid, it should not have been reported on the 1099. If the retainage WAS reported on the 1099, AND you paid the taxes on it, (like, who pays taxes on money they haven't gotten?) then you write it off as a bad debt (deduction on your taxes). The retainage, when paid, will have it's own 1099 issued, if it falls into a new calendar year.
> Welcome to Business Bookkeeping 202.
>
> > Notify the IRS. If no retainage paid, then they must provide you with a corrected 1099 for those periods. IRS loves dealing with these assholes.
> >
> > > Has anyone out there had to deal with retainage from Cablemasters/Orius? They are not responding to my letters requesting payment of retainage. The amount is very nominal but the principle of it is very important to me. Does anyone have a number that deals with payroll? At the time, I dealt with Joe Rocco and now I don't know how to get a hold of him, seeing that they hold retainage for a year. Any help would be appreciated.
> > >
Thank You!
