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Home Health & Hospice Week

Industry Note:

Beware Form 1099 Problems At Tax Time

Published on Thu Mar 22, 2012

With the April 17 deadline for filing federal taxes coming up, it may be time to revisit problems with the federal 1099 form issued by your intermediary, or risk paying too much in taxes. The 1099 form reports payments received from Medicare, notes FR&R Healthcare Consult-ing in Deerfield, Ill in a newsletter. Providers served by HHH MAC report discrepancies between the amount on this form and cash payments they actually received. In a Palmetto GBA Home Health Coalition Meeting question-and-answer set from March 2010, a participant noted that the form grossly overstates revenues. Cases the accountant cited had the amount of overpayments overstated by as much as 10 percent, according to the Q&A. Home care providers continue to see this problem with their 1099s this year, cautions consultant Tom Boyd with Rohnert Park, Calif.-based Boyd & Nicholas. "This is a problem for most providers," Boyd tells Eli. The March 15 [...]
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