Filing experts will tell you that when your business files 1099 forms, to make sure you file correctly and on time. It's important to do these things and do them right. Below are three things your business should know as we head into the 2022 filing season.
The federal government requires a business to file 1099 forms with the IRS, with an additional copy to the recipient. If your business employees 250 people or more, the IRS requires 1099 forms be e-filed, however, those with fewer employees are still allowed to use paper.
Any business, regardless of size, that pays at least $600 for services performed in the course of their trade or business by a person who is not their employee is required to file Form 1099-NEC.
|Deadline:||January 31, 2023||Various*||January 31, 2023|
*Deadlines and requirements vary by state. View our Deadline Calculator for complete filing information for each state.
Don't let your business lose money needlessly. Adhere to filing deadlines and best practices. Your employees could also end up paying the price for your unpreparedness. Be prepared, know your deadlines and keep your hard-earned money in your pockets.