Form 1099 Mailing Schedule

The IRS requires financial institutions, including Hilliard Lyons, to mail year-end tax forms to recipients by February 15th* of the following year. To generate these forms, we must gather pertinent information from many sources, including mutual fund companies, many of whom consistently correct their original data after the deadline.

The most common corrections involve “reclassified” payments. As mutual fund companies close out their yearly records, they must make adjustments between ordinary income, short-term gains, long-term gains, return of principal payments, and so on. (Incidentally, the majority of corrections have historically resulted in a more favorable tax treatment for the income involved.)

As a service to you, this year, Hilliard Lyons has received an extension until March 15th for providing year-end tax information.  In so doing, it is our belief that we will be able to minimize the need for follow-up “corrected” information, potentially eliminating confusion, errors and the need to refile your annual return.

We do expect to mail original Form 1099 information for tax year 2009 no later than February 22, 2010.

If you held investments with re-allocable payments such as mutual fund positions in tax year 2009, you may not be best served by filing your tax returns early in the tax season. We appreciate the opportunity to serve you as efficiently as possible. If you should have any questions, please do not hesitate to contact your Financial Consultant.

2009 Tax Tables

Pursuant to provisions of IRS Notice 2010-9 http://www.irs.gov/pub/irs-drop/n-10-09.pdf) modifying Internal Revenue Service Code Section 6045.

Turbo Tax Download capabilities will be activated at the time your 1099 forms are mailed

Turbo Tax Instructions