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Form 1099 penalties are ridiculously high. What you must do NOW to avoid them.
Implement strong procedures today, don’t wait until year-end. I know the deal, having been a controller for 20 years. You got through the 1099 season and said to yourself, “we can’t spend this much time and do it this way again next year!” But then your attention turns to the annual audit, and then an acquisition, and then a system conversion, and then a staff shortage, and before you know it, January is here again. Your focus turns toward issuing the year-end financials so you
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- Completing W-9s (9)
- Corporation (2)
- Featured (2)
- Form 1099 (13)
- Individual/Sole Proprietor (3)
- LLC (3)
- Requesting W-9s (9)
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IRS Launches Gig Economy Tax Center
This past week the IRS launched a brand new Gig Economy Tax Center on IRS.gov to help people working in the gig economy understand and
IRS updates backup withholding CP2100 and CP2100A notices
IRS updates backup withholding CP2100 and CP2100A notices On November 14, 2019, the IRS issued a statement that they had redesigned the CP2100 and CP2100
IRS Proposes NEW 1099-NEC form PLUS best practices for managing W-9 forms.
I recently had the pleasure of joining Debra Richardson on her weekly podcast to discuss the new proposed Form 1099-NEC form and best practices for
IRS Proposes Big Changes to 1099 Forms
New draft Form 1099-NEC The IRS has proposed making big changes to 1099 forms by reviving Form 1099-NEC. They just recently posted a proposed draft
Avoid the penalty, 1099-MISC due dates for 2020
Importance of filing timely The IRS has gotten serious about 1099-MISC due dates. Penalties have risen significantly and they apply separately to copies sent to recipients and the
Does a W-9 form have to be signed?
Most companies ask for all W-9 forms to be signed. However, it is a relatively unknown fact that the IRS does not require most W-9
What is a 1099-MISC form?
The 1099-MISC form is known as an “Information Return” Form 1099 is one of many forms that the IRS requires to be sent to individuals
Top 5 mistakes made on W-9 forms
I’ve been a CPA for over 20 years now and have seen mistakes on W-9 forms every one of those years. It seems like a
How to fill out a W-9 form
What is a W-9 form and why is my customer asking for it! So one of your customers has asked you to complete a W-9