January 31st is the deadline to issue any 1099s to your vendors for payments made for services performed in 2017. The deadline to get copies of these 1099s to the IRS is also now January 31, 2018. Note that the IRS has increased the penalties for not properly filing these forms.
If you would like our assistance in getting these prepared for you, we are happy to help. Please review your records and send us the following information as quickly as possible so that we can get these prepared for you timely:
- Vendor’s Name,
- EIN or Social,
- Total Amount Paid in 2017.
All of this information should be obtained from your vendors by having them complete Form W9.
If your business paid any individual, LLC or partnership for services and those payments for the year total $600 or more, you may be required to issue a 1099 for that service.
We have available upon request, a W9 with our firms’ information to assist you in your 1099 package preparation. If you paid our firm over $600 in 2017, you will need to issue a 1099 to Fulton & Kozak, LLC.
Let us know if you have any questions as you go through your records.