January 17, 2018
If you file your own 1099s, please remember that the recipient copies need to be mailed by January 31st, and the Internal Revenue Service copies are now also due January 31st. If we prepare these forms for you, please get us the information immediately so that they can be prepared timely.
In general, you must provide a 1099 to any unincorporated business (sole proprietors, LLCs, partnerships) that you paid $600 or more during the year for services or rent. An exception to this rule is that you must send a 1099 to an attorney/law firm even if it is incorporated.
Penalties for not filing these returns with the IRS and/or not providing them to the payment recipient are steep. You can be liable for penalties of $250 per 1099 for failure to file with the IRS and/or failure to provide to the recipient, and you can be subject to an additional $250 per 1099 if the IRS finds that your failure to file/provide was intentional disregard of the rules.
Call our office at (541) 388-7888 for more information or if you have questions.
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