New Delhi, Sept. 30 -- As October 15 approaches to file 2024 tax returns, many are reviewing their IRS forms 1099. These forms report income such as interest, dividends, pensions, tax refunds, consulting fees or miscellaneous payments. Payers send these to the IRS and the taxpayer to show income tied to their Social Security Number.

According to Forbes, it is important to check all 1099 forms before filing. Most come in late January or early February but some may come throughout the year. If a 1099 is missing or has an error, you need to take action to avoid IRS problems.

Even if you don't get a form 1099, you still have to report all income. If you do not inform the IRS about money shown on form 1099, they might send you notices or fin...