In connection with my post yesterday about end-of-year checks and which tax year such income should be reported, some folks are wondering about the exact resolution of my specific double payment situation.
The extra payment, which arrived in my snail mail box last week, was in connection with my regular motorsports column, specifically for the piece that will appear in a couple of Randall-Reilly trucking industry magazines in January. (In case you happen to be at a truck stop, check out the Truckers News or Changing Lanes magazines for my thoughts on Dale Jr.)
I was about to send the publisher an invoice for the February column I had submitted earlier this month when I realized I had received a duplicate January fee.
So instead of billing for February's work, I notified the company's accounting office and we agreed that the second January check would be counted as payment for my February column. (FYI, the February piece is on Chip Ganassi's dream 2010 season and will be available at truck stop newsstands in about five weeks.)
Now the client is happy because the check doesn't have to be returned only to be reissued in a few days.
I'm happy that I have some unexpected cash.
And the IRS will be happy this coming filing season when I pay a tad more in 2010 taxes!
- Constructively received income,
or what tax year applies to late-year payments?
- Crazy Woman Driver takes a Sunday drive
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