Is a 1099 required? Logo

  • Is a 1099 required?

    Do you need to issue a 1099 form for payments paid during the tax year?

  • READ THIS BEFORE COMPLETING THIS SECTION These questions will help detemine if a 1099 is required for a vendor paid during the tax year. 1099 Forms are required for payments of $600 or more for services or rents provided by an Individual and some LLC's.   Failure to file IRS 1099 forms can result in IRS Penalties.   Estimated Time to Complete:  Less than 3 minutes

  • IRS W-9 Form - Request for Taxpayer Identification Number and Certification

    Answering these questions will determine your 1099 filing requirement

  • What do you need to do now?

    Step 1:  Obtain a completed IRS form W-9 from this vendor for your records.

    Step 2:  Return to this form and re-enter vendor data to review if a 1099 is needed.

    IRS W-9 Form:  Click Here for Fill-in W-9 Form.

  • If not already provided, please submit a copy of the completed W-9 to the firm.
  • LLC's can be taxed in a variety of ways, we need to go one step further to answer.  How an LLC elects its tax status will determine your 1099 filing requriements.  Please look closely at line #3 of the W-9 for the tax status of this LLC and indicate below.
  • DO I NEED TO FILE A 1099?

  • YES - 1099 Needed!

    Based on how the IRS Form W-9 is completed, you are required to file a 1099 to this vendor for payments of more than $600 paid in the tax year.  Failure to do so can result in IRS penalties. Please reach out to our office when you are ready to provide details for vendor that qualify for a 1099.  

    To evaluate if additional vendors will require a 1099, please press F5 or reload the browser window to reset the form.

     

    Thank you for taking the time to complete this form!

  • NO - 1099 Not Needed!  

    Based on how the IRS Form W-9 is completed, no 1099 is required. There are no 1099 filing requirements for S-Corporations, C-Corporations and LLC's taxed as S-Corps or C-Corps.  

    To evaluate if additional vendors will require a 1099, please press F5 or reload the browser window to reset the form.

     

    Thank you for taking the time to complete this form!

  • YES - 1099 Needed for this LLC! 

    Based on how this LLC has elected to be taxed, you are required to file a 1099 to this vendor for payments of more than $600 paid in the tax year.  Failure to do so can result in IRS penalties. Please reach out to our office when you are ready to provide details for vendors that qualify for a 1099.  

    To evaluate if additional vendors will require a 1099, please press F5 or reload the browser window to reset the form.

     

    Thank you for taking the time to complete this form!

  • NO - 1099 Not Needed for this LLC!

    Based on how this LLC has elected to be taxed, NO 1099 is requred.  There are no 1099 filing requirements for S-Corporations, C-Corporations and LLC's taxed as S-Corps or C-Corps.  

    To evaluate if additional vendors will require a 1099, please press F5 or reload the browser window to reset the form.

     

    Thank you for taking the time to complete this form!

  • 1099 is not needed for this vendor

    To evaluate if additional vendors require a 1099, press F5 or reload the browser window to reset the form.

     

    Thank you for taking the time to complete this form!

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