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  • How To Issue A 1099

    From Roger Fitzsimmons@21:1/5 to All on Wed Nov 1 11:50:26 2023
    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.

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
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    << >>
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  • From Adam H. Kerman@21:1/5 to Roger Fitzsimmons on Wed Nov 1 14:01:26 2023
    Roger Fitzsimmons <[email protected]> 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 instructions
    and forms? It shouldn't be rocket science. I know I need a W-9 from
    the contractor.

    Paper form

    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/

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ira smilovitz@21:1/5 to Adam H. Kerman on Wed Nov 1 14:14:19 2023
    On Wednesday, November 1, 2023 at 2:05:08 PM UTC-4, Adam H. Kerman wrote:
    Roger Fitzsimmons <[email protected]> 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 instructions
    and forms? It shouldn't be rocket science. I know I need a W-9 from
    the contractor.
    Paper form

    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/
    --

    An addition - payments for medical services are also reported on Form 1099-MISC regardless of whether the recipient is an individual or a corporation.

    Ira Smilovitz, EA
    Leonia, NJ

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Stan Brown@21:1/5 to Roger Fitzsimmons on Wed Nov 1 16:52:18 2023
    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.

    --
    Stan Brown, Tehachapi, California, USA https://BrownMath.com/
    Shikata ga nai...

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Adam H. Kerman@21:1/5 to Stan Brown on Wed Nov 1 20:39:09 2023
    Stan Brown <[email protected]> wrote:
    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.

    Can I please point out that 1096 and Copy A of 1099-MISC and 1099-NEC,
    the copies that gets filed with IRS, are scannable, using red ink which
    drops out during the scanning process. You won't be able to print these successfully with your own printer. Order the blanks by mail at the URL
    I gave in the other followup.

    The copies of the form you give to the payee and possibly the state
    revenuers may be printed out,

    --
    << ------------------------------------------------------- >>
    << The foregoing was not intended or written to be used, >>
    << nor can it used, for the purpose of avoiding penalties >>
    << that may be imposed upon the taxpayer. >>
    << >>
    << The Charter and the Guidelines for submitting posts >>
    << to this newsgroup as well as our anti-spamming policy >>
    << are at www.asktax.org. >>
    << Copyright (2011) - All rights reserved. >>
    << ------------------------------------------------------- >>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)