Tag Archives: 1099s

Construction workers hired on project-by-project basis were employees

If the real estate market has not impacted Contractors enough. The Tax Court has concluded that workers hired by a construction company to work on various residential projects were employees. Despite the fact that the workers were hired on a … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , , , , | 1 Comment

How to avoid compliance penalties when paying independent contractors

Since we are in the middle of filing Form 1099s, we thought this was a topic worth repeating.  The American Payroll Association (APA) has issued a press release on January 4, 2012 that includes five basic tips on how to … Continue reading

Posted in Blog, Featured on Homepage, Tax Reporting | Tagged , | Leave a comment

1099-MISC Changes for 2011 Tax Year

2011 was a unique year for 1099 reporting. In the early part of 2010, Congress passed a variety of laws effecting 1099 reporting.  Most of these laws have been repealed, but some of them still exist that need to be … Continue reading

Posted in Blog, Featured on Homepage, Tax Reporting | Tagged , | Leave a comment

YEAH! New 1099 Requirements Repealed!

The President has signed H.R. 4, the “Comprehensive 1099 Taxpayer Protection and Repayment of Exchange Subsidy Overpayments Act of 2011.” This new law retroactively repeals the unpopular Form 1099 expanded information reporting rules added by 2010 legislation. This provision would have … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes, Tax Reporting | Tagged , | Leave a comment

Breaking News: Congress Votes to Repeal New 1099 Requirements

Great news for business owners. The Senate voted today to repeal the expanded 1099 information reporting requirements in last year’s health care reform and small business laws, sending the repeal to President Obama’s desk. We will provide more information once … Continue reading

Posted in Blog, Tax Notes, Tax Reporting | Tagged , , | Leave a comment

Form 1099’s Due This Month

As a general rule, Form 1099s are due to recipients by the end of January. With limited exceptions, every trade or business (including rental properties after 2010) must file an information return for payments made to unincorporated entities. The most common … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes, Tax Reporting | Tagged , , | 1 Comment

1099s Required for Owners of Rental Real Estate

The recently enacted Small Business Jobs Act contained one provision that may have escaped the notice of taxpayers who own rental property, but will affect them starting in January. Under the provision, owners of property who receive rental income will … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , | Leave a comment

More Bad News for 1099 Reporting

There has been much debate about the provisions of the Health Care Reform that would require businesses to report payments to most vendors starting in 2012.  Well the Small Business Jobs Act of 2010, strikes another blow to the likelihood … Continue reading

Posted in Blog, Featured on Homepage, Tax Notes | Tagged , , , , | Leave a comment