I am wondering if you are sending 1099's to incorporated veterinary's for the business services that they provide. I have read an article that they are considered medical payments and are required to be sent. I have not been sending 1099's to the incorporated veterinaries. Thank you for your input.
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I have a client that has several horses, runs a horse riding farm and i don't recall a 1099 sent to the vet. He does get invoices from the vet for services provided and payments are made with checks.Taxes after all are the dues that we pay for the privileges of membership in an organized society. - FDR -
Veterinary expenses of $600 or more paid to an incorporated vet should be reported on a 1099.Originally posted by sdtaxman View Post
I have a copy of a memorandum from the Office of Chief Counsel dated 10-24-2013 that specifically addresses this issue.
"Incorporated veterinarians are not exempted from the reporting requirements by Treas.Reg. § 1.6041-3(p)(1) because veterinarians are 'engaged in providing medical and healthcare services' for the purposes of Treas. Reg. § 1.6041-3(p)(1)."
Payment go in Box 6 of the 1099MISC and not Box 7.Jiggers, EAComment
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Jiggers thanks for the help.Comment
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