In general, you are required to issue a Form 1099-MISC to any vendor (payee) that meets the following conditions.
Obtaining Payee Information
You are required to obtain a Form W-9, Request for Taxpayer Identification Number and Certification, from each payee that meet conditions 1 and 3, above, and that may receive at least $600 in payments during 2018.
If the payee refuses to provide Form W-9 then backup withholding may be required on your part. Contact our office if this is the case.
Generally, Forms 1099-MISC are due to your payees by January 31, 2019. A $250 per form penalty can be assessed for failure to provide the forms by the due date.
Copies A of Form 1099-MISC are due to the Internal Revenue Service by January 31, 2019. An additional $250 penalty per form can be assessed for failure to file by the due date.
Income tax returns require taxpayers to answer questions indicating their compliance with information return reporting requirements.
These completed worksheets must be provided to our office before January 18, 2019 in order to meet the above due dates.
Use the forms below to provide us with the information needed to prepare your Forms 1099-MISC information returns.
Caution! The Internal Revenue Service matches payee names and taxpayer identification numbers (“TIN”) (e.g. Social Security Numbers (“SSN”) or Employer Identification Numbers (“EIN”) Numbers). It is important that if the payee name is that of an individual that you provide their SSN for the TIN or if the payee name is that of a business that you provide their FEI number for the TIN. Here are several examples of proper name and TIN matching.
Payee TIN matching examples
|John A. Doe||999-99-9999||SSN|
|John A. Doe d/b/a City Handy Work||999-99-9999||SSN|
|City Handy Work||99-8888888||EIN|
|Sally Smith Law Firm, LLC||88-7777777||EIN|
|John and Sally Office Cleaning Partnership||77-6666666||EIN|
Employers and employees have the option of deferring the 6.2% employee social security tax from September 1 through December 31, 2020. Any deferred taxes must be paid between Janaury 1 and April 30, 2021.
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Employers are required to continue to pay employees under certain circumstances related to the COVID-19 virus. Employers will be reimbursed 100% of the payments under this act.
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Use our web-based NetClient portals or mobile app to send us documents and other files.
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Perform a "Paycheck Checkup!" Recent changes to the federal tax law made changes to your paycheck. Be sure that you have the proper amount of federal tax withheld in order to avoid a tax bill. Click here for details.