White Paper

Form 1099 Misuses and Pitfalls

 
Some payments are not required to be reported on Form 1099-MISC, although they may be taxable to the recipient and require some other method of reporting. In this whitepaper learn which payments you do not send a 1099 MISC for. Learn some of the common errors when processing 1099 returns. Penalties for Late Filing apply if you fail to file timely, fail to include all information required or you include incorrect information. If you fail to provide correct payee statements and you cannot show reasonable cause, you may be subject to a penalty.