Tax Tips — 1099 RSS

1099's - Review Payments Made to Contractors

As this New Year begins, it is important for all business owners/ employers to prepare and issue 1099s to the recipients, and file with IRS. ⠀⠀⠀⠀⠀⠀⠀⠀⠀The 1099 tax form, referred to as “Information Return, by IRS” should be sent by the company to the independent contractors if it paid more than $600 to them during the year.The January 31st deadline only applies to Form 1099-MISC with an amount in box 7, Nonemployee Compensation.⠀⠀ ⠀⠀⠀⠀⠀⠀⠀If you need help filing contact us. 

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