Forms 1099 MISC are due by January 31, 2020 (to both the IRS and recipients).
Extensions for the IRS copy no longer exist, even if you file electronically.
These forms are required to be submitted if you pay $600 or more to individuals or
unincorporated businesses during the calendar year. Unincorporated businesses
would include partnerships and limited liability companies including professional
limited liability companies like Heveron & Company CPAs PLLC.
This deadline is important because penalties can be assessed for late filing or filing
with incorrect information.
You should gather the information to prepare the forms as early as possible so you
are able to meet the deadline.
You should request name and Social Security or ID number, using form W-9, from
anyone you may be required to provide a 1099 two
Go to https://www.irs.gov/pub/irs-pdf/fw9.pdf to obtain a copy.
Typical recipients of forms 1099 include:
- the attorneys;
- Consultants;
- Accountants
- Architects and engineers
- providers of management services, rent, cleaning, repairs, maintenance,
snow plowing, decorating, painting and remodeling services.
There are some exceptions for certain types of payments, so contact us if you have
questions or review the instructions for these forms which can be found on page 25
of the general instructions for forms 1099. Go to https://www.irs.gov/pub/irs-
pdf/i1099gi.pdf for the instructions.
