The deadline for sending 2014 1099s to vendors is February 2. Who should get a 1099? Generally, any unincorporated contractor to whom your business paid $600 or more during the calendar year for services should get a 1099. Corporations (“Inc.”, “Corp.”) do not need a 1099 unless they are attorneys providing legal services. Think about repair contractors, accountants, attorneys, fundraising/advertising professionals, web design contractors, etc. Be sure to file the IRS copy by March 2 (or March 31 if you’re e-filing).
January 4, 2015