Statue of Limitations on a corrected 1099 misc?
Maybe I am over reacting here:
I owned a catering business from 1986 to 2001.
Today I received in the mail a payment check of $1,525.06 from company XX for a job that was invoiced by my business on 4/29/99! This is mysterious - I can't imagine an outstanding payment of this size slipping under my radar....
As a DBA business I always received a 1099 misc. from company XX. I received a 1099 misc from company XX for 1999 which did not include this mysterious $1,525.06. My 1999 income taxes paid were based on the 1099 misc. amount that company XX reported paid to me for 1999.
Can company XX now generate a corrected 1099 misc. including this extra amount for the year 1999? Is there some kind of statute of limitations on companies generating corrected 1099 misc for independent contractors?
Of course I didn't keep my business records from 1999 - I destroyed them a couple of years ago, so I can't check any thing.
Any thoughts you all have would be appreciated.........