It appears that there are more notices being issued to taxpayers regarding a potential mismatch with a 1099 that was filed. This increase in correspondence might be the result of taxpayers responding to Two Simple Questions Taxpayers Must Carefully…
It appears that there are more notices being issued to taxpayers regarding a potential mismatch with a 1099 that was filed. This increase in correspondence might be the result of taxpayers responding to Two Simple Questions Taxpayers Must Carefully…
1099 Filing Requirements Businesses have a responsibility to file Form 1099-MISC to all unincorporated businesses that they pay more than $600 to annually. An unincorporated business is a sole-proprietorship, partnership or a Limited Liability Company (“LLC”). In addition to having…
1) Payments made to independent contractors. Payments to independent contractors over $600 need to be issued a Form 1099-Miscellaneous. This form needs to be issued to all unincorporated vendors. An unincorporated business is one that is a sole proprietorship, partnership…