It’s that time of year when people will start receiving 1099s and W-2s. I received one on January 4th, so the season really has begun. If you’re an employer wanting to send a 1099 or W-2 electronically to the recipient … did you know that there are hoops you must jump through? Many Hoops Providing […]
This is part 3 in our in-depth look at whether owners of rental properties need to issue 1099s. In part 2, we closed with an opinion given by numerous CPAs, that “only” real estate professionals need to issue 1099s for their rental activity. Let’s look at where they get this from. First of all, there […]
The question posed to me was: if we rent a conference room from a hotel, do we need to issue a 1099 to the hotel to report the amount of fees paid? My knee-jerk reaction was to say no, because renting a conference room isn’t really a “rent expense” as in an office lease. An office lease would need reported on a 1099, but renting a conference room wouldn’t be. But I never felt 100% confident in that answer.
The IRS says 1099s need issued to veterinarians. When does this rule start?
Does a business need to issue a 1099 to an incorporated veterinarian for veterinarian services? The IRS says yes.