FE NOTE TO SUBMIT 1099 FOR 2020

[Fouz 1]

On 7/27/2022 at 8:13 AM, Family said:

1. Is the Petitioner/ Sponsor employed , self employed or unemployed? I think you are having a problem with the Pet/ Sponsor…NOT the Joint Sponsor . 
 

If Joint sponsor is W-2 employee and his tax return shows that’s his ONLY income then he is clear. But do double check his tax return if it has any other income ( example sch C ). 

Hello . I wanted some help. I figured out with some help that the issue with the 1099 is due to a taxable interest reported in my joint sponsor's tax transcripts.  It is interest on a bank account for almost 300$. My sponsor has no idea about this 1099-Int and his accountant insists there are no 1099. Any ideas as to how i can resolve this issue witH NVC? IT SEEMS like I wont be able to get this document. 

[chaoticenergy 32]

1 hour ago, Fouz said:

Hello . I wanted some help. I figured out with some help that the issue with the 1099 is due to a taxable interest reported in my joint sponsor's tax transcripts.  It is interest on a bank account for almost 300$. My sponsor has no idea about this 1099-Int and his accountant insists there are no 1099. Any ideas as to how i can resolve this issue witH NVC? IT SEEMS like I wont be able to get this document. 

Is this the latest NVC trick? Asking for 1099 for bank interest even though the sponsor is a W-2 employee and submitted tax transcripts and everything?

 

I suppose the sponsor can show their accountant the IRS tax transcript as proof that 1099 was indeed submitted and demand it. Your sponsor can also obtain one from the bank I think. I mean they are willing to sponsor you why would they ruin it by refusing to provide an existing document? Just talk to them about it.

Edited August 14, 2022 by chaoticenergy

[Fouz 1]

12 minutes ago, chaoticenergy said:

Is this the latest NVC trick? Asking for 1099 for bank interest even though the sponsor is a W-2 employee and submitted tax transcripts and everything?

 

I suppose the sponsor can show their accountant the IRS tax transcript as proof that 1099 was indeed submitted and demand it. Your sponsor can also obtain one from the bank I think. I mean they are willing to sponsor you why would they ruin it by refusing to provide an existing document? Just talk to them about it.

Yes this is the latest from nvc unfortunately . My sponsor has no idea about the source of this interest and which bank as he told me. He said he would ask his accountant but Im not expecting a  call back. This is why Im looking for ways to resolve this issue with NVC on my own. 

Edited August 14, 2022 by Fouz

[Chancy 6,233]

16 hours ago, chaoticenergy said:

Is this the latest NVC trick? Asking for 1099 for bank interest even though the sponsor is a W-2 employee and submitted tax transcripts and everything?

 

Not an NVC trick.  It's in the I-864 instructions -- "If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every Form W-2 and Form 1099 that relates to your returns."  A $300 interest will definitely generate a 1099-INT from the bank.  Any interest above $10 requires a 1099-INT to be filed with the IRS.

 

[chaoticenergy 32]

31 minutes ago, Chancy said:

 

Not an NVC trick.  It's in the I-864 instructions -- "If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every Form W-2 and Form 1099 that relates to your returns."  A $300 interest will definitely generate a 1099-INT from the bank.  Any interest above $10 requires a 1099-INT to be filed with the IRS.

 

Yes, but people are getting W2/1099 requests even when they provided IRS Tax Return Transcript or IRS Wage and Income Transcript. The instructions are not clear.

[Chancy 6,233]

1 minute ago, chaoticenergy said:

Yes, but people are getting W2/1099 requests even when they provided IRS Tax Return Transcript or IRS Wage and Income Transcript. The instructions are not clear.

 

Wage and Income Transcript is the wrong transcript type to submit.  It should be the Tax Return Transcript.  As to why the W2/1099 might be required depends on whether the transcript indicates MFJ filing and whether it is clear from the submitted documents that the sponsor is not combining income with their spouse.  From the I-864 instructions -- "If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every Form W-2 and Form 1099 that relates to your returns. Do not include copies of these forms if you provide an IRS transcript of your Federal individual income tax returns rather than a photocopy unless you filed a joint income tax return with your spouse and are qualifying using only your income."

 

[chaoticenergy 32]

1 minute ago, Chancy said:

 

Wage and Income Transcript is the wrong transcript type to submit.  It should be the Tax Return Transcript.  As to why the W2/1099 might be required depends on whether the transcript indicates MFJ filing and whether it is clear from the submitted documents that the sponsor is not combining income with their spouse.  From the I-864 instructions -- "If you provide a photocopy of your Federal individual income tax returns, you must include a copy of each and every Form W-2 and Form 1099 that relates to your returns. Do not include copies of these forms if you provide an IRS transcript of your Federal individual income tax returns rather than a photocopy unless you filed a joint income tax return with your spouse and are qualifying using only your income."

 

Thanks for the clarification. It now makes sense now why people are getting W2/1099 FE notes.

 

As to why I brought up the IRS Wage and Income Transcript, this is specifically what my FE Note asked for 2021 presumably because 2021 taxes have not yet been processed. I am assuming some other people are getting this note too when they failed to provide their 2021 Tax Return Transcript.

[Chancy 6,233]

1 minute ago, chaoticenergy said:

As to why I brought up the IRS Wage and Income Transcript, this is specifically what my FE Note asked for 2021 presumably because 2021 taxes have not yet been processed. I am assuming some other people are getting this note too when they failed to provide their 2021 Tax Return Transcript.

 

Yes, that's possible.  IRS has a note somewhere on their web site that they're taking longer to process returns, especially those filed by mail.

 

[Fouz 1]

2 minutes ago, Chancy said:

 

Yes, that's possible.  IRS has a note somewhere on their web site that they're taking longer to process returns, especially those filed by mail.

 

Thank you for the feedback

[chaoticenergy 32]

14 hours ago, Chancy said:

 

Yes, that's possible.  IRS has a note somewhere on their web site that they're taking longer to process returns, especially those filed by mail.

 

In that case, would the IRS Wage and Income Transcript be able to replace IRS Tax Return Transcript? It seems that the general consensus here is that it is best to submit IRS Tax Return Transcript, but that is not available for us as of now.

[Fouz 1]

1 hour ago, chaoticenergy said:

In that case, would the IRS Wage and Income Transcript be able to replace IRS Tax Return Transcript? It seems that the general consensus here is that it is best to submit IRS Tax Return Transcript, but that is not available for us as of now.

Would a wages and income transcipt also solve my issue with NVC? THEN they can see the source of the 300$ interest income claimed in the 1040?