I have to issue a 1099 this year from my small business, for the first
time in a zillion years.
I Googled it, but most of the sites took me in circles, and some seemed
to be trolling me to sign up for their site or there software.
What the easiest way? Is there a site with step-by-step instructions
and forms? It shouldn't be rocket science. I know I need a W-9 from
the contractor.
Roger Fitzsimmons <donts...@redtopbg.com> wrote:
I have to issue a 1099 this year from my small business, for the first
time in a zillion years.
I Googled it, but most of the sites took me in circles, and some seemed
to be trolling me to sign up for their site or there software.
What the easiest way? Is there a site with step-by-step instructionsPaper form
and forms? It shouldn't be rocket science. I know I need a W-9 from
the contractor.
Seriously, it's the easiest way. Then fill it out neatly by hand.
You were supposed to collect that W-9 before making the first payment. However, if he doesn't give you the W-9, his SSN will do. The burden is
on him to notify you if he's subject to backup withholding.
If he's incorporated, there's no 1099, unless he's a lawyer. All lawyers receive 1099s.
You're probably going to use the 1099-NEC which is laid out the same as
the 1099-MISC was. The new form (there had been an NEC years ago) is
because IRS finally realized that the information with a January 31
deadline should be on a separate information return than information
with a February 28/29 deadline.
Don't forget the 1096, which is the transmission sheet.
https://apps.irs.gov/app/taxmat/information-employer-returns/
--
I have to issue a 1099 this year from my small business, for the
first time in a zillion years.
I Googled it, but most of the sites took me in circles, and some
seemed to be trolling me to sign up for their site or there
software.
On Wed, 1 Nov 2023 11:50:26 EDT, Roger Fitzsimmons wrote:
I have to issue a 1099 this year from my small business, for the
first time in a zillion years.
I Googled it, but most of the sites took me in circles, and some
seemed to be trolling me to sign up for their site or there
software.
When googling tax stuff, try adding "site: irs.gov" (without quotes)
to your search. That will restrict search results to the official IRS
site.
Using the search >> "form 1099" site: irs.gov << (quotes as shown) I
found a lot of useful-looking results, including an option to e-file
the form 1099 using IRIS. That's mandatory for entities filing 10 or
more in a year, but it sounds like you have just the one.
If you're filing just one form, you may not want to bother
registering for IRIS. In that case, ><https://www.irs.gov/pub/irs-pdf/f1099msc.pdf>
has forms that you can fill in and print. Instructions to the payer
are on page 8 of the PDF.
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