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February 2007

Where Is Your 1099?

You may have noticed that you have not yet received many of your informational Form 1099’s.  A new law was enacted last spring that required issuers of 1099s to include information about tax-free interest and interest from industrial revenue bonds (AMT bonds).  In order to allow mutual funds, banks and brokerage houses time to compile this information, the Internal Revenue Service (IRS) has granted issuers of 1099s an extension until the end of February to provide 1099s to taxpayers.