1099s for Non-employees

If you operate a business and paid for non-employee services, have you prepared your 1099s yet? These forms are due to recipients by 2/15/12 and the 1096 transmittal forms are due to the IRS by 2/29/12.

In general, if you operate a business and pay non-employee compensation to third parties in excess of $600 per year, you are required to prepare 1099-MISC forms for each such recipient. If you paid a corporation for these services, you generally are not required to prepare 1099-MISC forms for them.

Find out more at http://www.irs.gov/pub/irs-pdf/i1099msc_11.pdf.

If you have any questions, feel free to contact us.

Don Kyle, CPA