Maxine Waters said "The memorandum discussed a way by which they could deny the check that had already been cut, and they did it within 24 hours. See, the reason the gentleman got his 1099 from the IRS was because the check was cut, and the form went over to notify Internal Revenue that he had been paid. So when you send that notification, then IRS takes, of course, a look at the additional dollars or compensation or whatever you have so that they can tax you. That is why he got the notice from IRS because they assumed, given they had been given the notice, that he had the money." @ PoliticalQuotes.com

On the recordFebruary 24, 1998

The memorandum discussed a way by which they could deny the check that had already been cut, and they did it within 24 hours. See, the reason the gentleman got his 1099 from the IRS was because the check was cut, and the form went over to notify Internal Revenue that he had been paid. So when you send that notification, then IRS takes, of course, a look at the additional dollars or compensation or whatever you have so that they can tax you. That is why he got the notice from IRS because they assumed, given they had been given the notice, that he had the money.

Said by

Maxine Waters

Democratic · California

Source

govinfo.gov

Editor's note · Context

Discussing IRS notification and tax implications related to a payment.

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