Did you know that the IRS has changed the date that Forms W-2 and 1099 must be electronically filed by? The deadline, previously March 31st of each year, has been moved up to January 31st. This means that all Forms W-2 and 1099 must be delivered to the recipient as well as filed with the appropriate reporting agency by that date.
Generally, Form 1099 must be issued to any subcontractor that is paid over $600 in the calendar year or any attorney that you have paid, regardless of the amount.
If you know that you will need Forms W-2 and/or 1099 prepared for the 2016 tax year or would like to inquire further, please contact our office as soon as possible so that we can allow the appropriate amount of time for preparation.