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1099-MISC Information Reporting

Deborah Hylander

January 7, 2019

The deadline for filing Forms 1099 for payments made to your vendors in 2018 is January 31, 2019!

The IRS requires Form 1099 to be filed if you made payments during the year as part of your trade or business (including rental real estate) for the following activities:

Services performed by independent contractors or others (not employees of your business);
Rent;
Royalties;
Interest on a business debt to someone (excluding interest on an obligation issued by an individual) ;
Dividends or other distributions to a company shareholder.
Please note that you are not required to file Form 1099 if any of the following situations apply:

The payment was made to another business that is incorporated (unless the payment was for medical or legal services), or
The sum of all payments made to the person or unincorporated business during the year is less than $600.


If you need us to prepare your Forms 1099 for 2018, please provide us the completed Form W-9 with the following information for each vendor:

Name as shown on the vendor’s tax return;
Address;
Social security number or employer identification number;
Total amount paid to the vendor during the year.
 

You may download Form W-9 from https://www.irs.gov/pub/irs-pdf/fw9.pdf for you to give to your vendors to assist you in gathering the required information. 

 In order to have your Forms 1099 completed by the filing deadline, you must provide us with your information no later than January 15, 2019. 

As always, please let us know if you have any questions.

 Thank you!

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