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FedEx 1099 question...

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aimeejos

Active Expediter
Before I go through the hassle of calling FedEx, I thought I would ask you guys!
Been working on organizing for my taxes- have the pile of settlements in front of me as we speak. The compensation # that FedEx reported on my 1099 does not match what I have from my settlements. I am $371.75 over my 1099. I have done the math over and over again, looking for this. Any thoughts? I could see the 1099 amount being more than my settlements and have it be a bonus or something- but to be less than the settlements??? Is my newbie O/O status causing me to miss something because I am not aware??? UGH!
 
Last edited:
layoutshooter

layoutshooter

Veteran Expediter
Retired Expediter
aimeejos said:
Before I go through the hassle of calling FedEx, I thought I would ask you guys!
Been working on organizing for my taxes- have the pile of settlements in front of me as we speak. The compensation # that FedEx reported on my 1099 does not match what I have from my settlements. I am $371.75 over my 1099. I have done the math over and over again, looking for this. Any thoughts? I could see the 1099 amount being more than my settlements and have it be a bonus or something- but to be less than the settlements??? Is my newbie O/O status causing me to miss something because I am not aware??? UGH!
Click to expand...

Pretty normal. This is the first year out of the last 6 that the 1099's have matched our books. You being over is strange, it was always the other way around for us. Go with the hassle. Some years it took 4 or 5 calls to get it right.
 
LDB

LDB

Veteran Expediter
Retired Expediter
Settlements are based on weeks while the 1099 is based on the calendar year. Usually part of the first settlement is part of the last week of the prior year and part of the first week of the current year. The same for the last settlement of the year being partly that week and partly the first week of the following year.
 
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aimeejos

Active Expediter
LBD thank you for that information... But I just realized I am far more off of their # than I thought. I don't have to worry about the beginning of the year because we signed on in May. So then I guess my issue is for Dec 31.... Now to figure this out... Good thing I am a night owl... This may take a while and its already 9:53pm.... Did I say UGH yet??? LOL
 
TeamCaffee

TeamCaffee

Administrator
Staff member
Owner/Operator
By any chance did you win anything this year or stay in a hotel they paid for? All of those "free" things come with a price that will also change the 1099.
 
redytrk

redytrk

Veteran Expediter
Charter Member
I was always mystified by the start/end date FDCC uses for calculation. IRS 1099 instructions say it is the date money changed hands. IE: Check date. However the settlement date is different. Then there is also a computer date.
 
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aimeejos

Active Expediter
This is ridiculous ... Who would think it would be so hard to figure this out... Guess I have to call them Monday after all. My #'s are way OVER the compensation amount on my 1099. And all the creative math in the world has not found a matching amount... Guess I should just ignore the settlements and go with the 1099 but then I need to know what adjustments on the settlements actually were applied in 2013 so they can properly be put into my expenses.... I was hoping someone out there with years of experience would know their mysterious ways...
 
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interstategar

Veteran Expediter
If you call contractor settlements they will give you the dates they base their total on, then double ck with your calculator. They can look it up and tell you very quickly. Takes all the guessing out,
 
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