In what situation we need to issue Form 1099 to corporation?

[NPH]

In what situation we need to issue Form 1099 to corporation?

Should we issue the Form 1099 to LLC and LLP?

[JG EA]

Good question,

But I know that in the case of an attorney you send a 1099 even if a corporation.

I think the LLC is considered a corporation if it is considered a corporation in the eyes of the state it is in.

Probably your best bet is to send them a W-9 and have them mark if they are a corporation or not.

[S T]

1099 Fprms

It is my understanding an Attorney is always issued a 1099 form regardless and from different sources that I read a 1099 form should be issued to all providers of professional services regardless of their entity status.

LLC or LLP is more than likely a "disregarded" entity status, so when in doubt issue a 1099 form.

You can't be in jeopardy of not filing 1099 forms, if you issue them regardless of the entity status. At least it shows that you tried to do your best!!

Sandy

[Jiggers]

1099's to corporation

You need to issue 1099's to a corporation if the payments were for medical services.

[Davc]

Quacks & Shysters. The IRS seems to have a good handle on where to look for the big under reports.

[RJM]

LLCs and LLPs are not corp's...

....so they should always be issued 1099's, even if they are taxed as corp's. -Bob

[Jiggers]

If in doubt....

issue a 1099. That is what I tell my clients!

[NPH]

You need to issue 1099's to a corporation if the payments were for medical services.

What does "medical services" mean?

[S T]

1099 Instructions

Here is the link to 1099 instructions which contains the information in box 6 for Medical payments.

Also other issues regarding the LLC/LP etc.

http://www.irs.gov/pub/irs-pdf/i1099msc.pdf

Sandy

[NPH]

After we submit the Form 1099MISC to IRS

What can we do if someone calls us to request the form 1099MISC?

[BOB W]

The first...

..... rule is never submit IRS copies until Feb 28. The Second rule is to issue all 1099s as soon as the year ends> this also goes for W-2s. The third rule is file corrected 1099/1096 as needed.

[S T]

Request 1099

If someone is requesting 1099 misc, we issue! As Bob W states below, issue all you can by 1/31, don't send in 1096 transmittal until 2/28.

Altho I do have to say we have submitted several 1096 transmittals on one client and never a problem. Have also submitted late, but I do warn the t/p that there could be penalties, for late filing, but so far have not incurred any penalties.

Sandy

[veritas]

What is everyone charging for 1099s?

We charge $60 for the first and $20 for each additional.

[Black Bart]

$15.84 as of a couple of days ago.

<<What is everyone charging for 1099s?>>

We charge $60 for the first and $20 for each additional.

[Black Bart]

$15.84 as of a couple of days ago.

<<What is everyone charging for 1099s?>>

We charge $60 for the first and $20 for each additional.

Last guy in needed six and I charged him $95.

But seriously, I guess it's about $15-20 apiece. I've been trying to sort of establish a $50 minimum and have kinda stuck to it, but not entirely -- if a "pore-boy" client just needs one 1099 and it's maybe a one-time deal then I might do it for $15-20-25, or if he's such a lightweight that he might go out of business shortly and I'd then get his 1040A return from then on out by bein' nice (workin' cheap) to him or if Mars and Jupiter are in the proper cosmic alignment with Earth and if he's broke flatter'n a duck's instep or his wife/girlfriend is pretty and humors/smiles at me and.....well, you can see how it is.....the only thing I'm consistent about is my inconsistency.

I keep the larger 1099s/1096 'til 2-28, although I hate to keep all that junk around my office and having to remember to mail it in time. It's their repsponsibility, but the last time I was "business-like," I sent 65 "reds" to the client along with the 1-31 copies and told him to hold 'til 2-28. Sure enough -- despite the fact that he has four clerks -- they forget all about it and don't trip over them in the office until late August. He calls: "What's this IRS notice about 1099 penalties?"

So, I gave up. I've got his '06 stuff on my desk right now waiting for the deadline (but I've added $100 to his fee just to salve my wounded ego).