Intellishop & taxes

I received the 1099 from Intellishop for those fast food shops I did last year. Because of the pandemic I only did around 35. The 1099 indicates an amount that does not match my records. I can correlate all my records with what is shown on my shop log except I can't see the January 2020 shops. There were 6. Even with those payments figured in with the others I still can't justify the amount that is shown on the 1099. I have used the contact us section on their website and sent an e-mail to them asking for information on how they came up with the amount on the 1099 and no one even acknowledges that I have sent these inquiries.

Anyone else have a problem with Intellishop?

Thank you.

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Your December 19 shops would show up in 2020 and you may have late November or December shops for 2020 that got paid in 2021.

They paid typically the next calendar month after approval not shop so you have to look at your log and see when they were approved.

Edited 1 time(s). Last edit at 03/10/2021 05:57PM by foodluvr.

Intellishop's 1099 includes reimbursements, not just the fees. Most other MSCs have just the fees on the 1099.

Keep in mind that a 1099 is what THEY paid you between 1/1/2020 and 12/31/2020, not what you EARNED during that time period. If you are a Cash accounting taxpayer, income you RECEIVED between 1/1/2020 and 12/31/2020 is what you pay tax on. If you are an Accrual accounting taxpayer it is what you EARNED in that time period.

If you have kept good records, do your reporting from your records and don't worry too much about what the 1099 says. Some companies just do it wrong, either because their accountants are dolts or because they misunderstand what their accountants are saying. Reimbursements are NOT income to you, Paypal fees they pay to pay you are NOT income to you, etc.

Edited 1 time(s). Last edit at 03/11/2021 05:42PM by Flash.

Since there is already this tax question thread let me ask my question here...I am considering doing one of the shops where you purchase a cell phone and you are given the opportunity to either keep it and use the fee plus reimbursement to help pay for it or you can send it back and keep the entire amt as payment.
So if I decide to keep the phone but I did have a choice to get the money as payment instead can I still list the price they paid for my phone as reimbursed expense?
I will not trust any of your advice 100% but I want non expert guidance and then will check the IRS site to find the correct answer.

I'm going to answer your question sideways.

If the plan and phone were a better deal than my current phone deal I would 1) accept the deal and keep it, 2) use it for my business so that the phone and service become a business expense, 3) claim anything sent me by the MSC as a 'fee'.

If the plan and phone were NOT a better deal than my current phone deal, I would 1) return the phone and treat payment as fee and reimbursement as set forth in the shop.

IMHO, if you keep the phone even for personal use, the $100 (or whatever) that they send you as partial payment for the physical phone is a reimbursement, not a fee. Even if they call it a fee, on my tax return I would categorize it as a reimbursement. The remaining $600 (or whatever) is a business expense if you use it for business. It is just part of life if you keep the phone for personal use.

Shopping Southeast Pennsylvania, Delaware above the canal, and South Jersey since 2008

I've been trying to accept shops recently from Intellishop with no success. They are self assign.so I sent the scheduler a request just yesterday. Here is here response:

"I am sorry, it looks like your account has been deactivated and cannot be reactivated. The note only states there was IRS issues. Sorry"

I never had any IRS issues, so perhaps it was what you are talking about. I only claimed fees and their 1099 included reimbursement amounts and the IRS requested clarification from Intellishop on the discrepancy.

Wow, Rosie.

I second that WOW. And they seem to not even want to discuss it with you. Hope you can get to the bottom of this and prove to them you were not cheating on your taxes.

I would send a certified letter to Intellishop stating the corrected amount that should be on your 1099. Tell them you expect a corrected 1099 with 14 days or you will have to turn it over to an attorney.

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