I was on the IRS independent contractor webinar today and I understand the IRS to say that if a S-Corp, regardless of size, does NOT have to issue a 1099-misc to a sole proprietor, single or multi member LLC and/or partnership the S-Corp paid $600 or more to in the tax year. Did I hear that correctly?
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Sounds like the other way around. Any entity who pays nonemployee compensation in the course of their trade or business must issue Forms 1099 to all others from individuals on up -- but not to corporations. The usual dollar amount floors apply. Of course, anyone can issue 1099s for less than $600 or to corporations, just not required to do so.
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