Statoil Sends Botched 1099's

I just got my 1099 from Statoil in today's mail.

    My jaw almost hit the floor, the amount of royalty it showed was more than 4 times the amount that I was actually paid in 2013. I contacted their office number listed on the 1099 (previous contacts through their 866 numbers took abut four months to get a call back, so I wanted to get a faster response). I was told that their accounting system had a massive problem in the generation of the 1099's and MANY royalty owners were affected. They are aware of the problem, are in the process of fixing it and will be sending out corrected 1099s "soon". I asked if there was any estimate of when "soon" would be, but they could not provide an answer.

  Bottom line, do your own math and verify any number you see on a Statoil 1099 before you start your taxes!

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Replies to This Discussion

Permalink Reply by JK on February 3, 2014 at 9:27am

Agreed as well.

chk did the same thing.

The true amount differs by over $200.

Matthew - We have zero deductions.

Permalink Reply by Trapper on February 3, 2014 at 1:07pm
Perhaps they are keeping too many sets of books and they get a little confused on which one to use for what purpose....lol....???
Permalink Reply by Sherre Boyanowski on February 3, 2014 at 4:54pm

I want to keep my Statoil 1099. It was only about .005% of what the amount should be. Do I have to accept the amended one? LOL Last year somebody had to send out amended 1099s, but I can't remember who. Does anyone remember? It could be a ploy they use to give them extra time to file.

Permalink Reply by Kristine Milochik on February 6, 2014 at 11:11am

When I got my 1099 I nearly fainted, it was 7 times what I actually received.  I called them this morning (Feb. 6) and was told they are aware of the problem and that I should receive a corrected 1099 in 7 to 10 days.  We'll see if they're accurate.

Permalink Reply by Darlene Newton on February 6, 2014 at 12:17pm

When you make up different charges each month how could you possibly keep track of how much money your stealing!  Am I right?  Or am I right?  People its called revolt unless we revolt ain't nuttin gonna happin!!!!!!!!

 

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