As the year draws to an end many business owners face the challenge of determining which of their vendors will require a 1099. Failure to comply with this requirement may result in fines based on a per filing basis. However, with some basic planning this annual process is not as daunting as you may think
When are they due?
New this year, form 1099-MISC will be due to the IRS by January 31st if reporting non-employee compensation payments in box 7. Otherwise, for all other boxes on the 1099-MISC, 1099-DIV, and 1099-INT the next filing dates are February 28th if filing by …read more
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