Important Reminder: 1099 Forms for 2023 Tax Year
Dear Valued Client,
As the 2023 tax year draws to a close, we at Seth & Alexander want to ensure that you are aware of the upcoming deadlines for furnishing Forms 1099-B, 1099-S, and 1099-MISC (if amounts are reported in boxes 8 or 10) to your recipients. The due date for these statements is February 15, 2024.
Who Receives a 1099 Form?
Individuals or businesses that have made payments to certain non-employee service providers, including freelancers, independent contractors, and vendors, are required to issue Form 1099 to those recipients. The specific type of 1099 form depends on the nature of the payments made.
Who Needs to Fill Out a 1099 Form?
If you have made payments of $600 or more during the 2023 tax year to any non-employee service provider for services rendered, you are required to issue a 1099 form to that recipient. This applies to payments made for services such as:
Professional services: Legal, accounting, consulting, marketing, and other professional services
Freelance work: Writing, editing, photography, graphic design, and other freelance work
Contract labor: Construction, repairs, maintenance, and other contract labor
Don't File 1099s for Corporations
If you have made payments to a corporation, you do not need to issue a 1099 form. Corporations are considered separate entities from their shareholders and are responsible for reporting their own income and expenses.
Don't File 1099s for Employees
If you have paid employees wages, salaries, or other compensation, you do not need to issue a 1099 form. Employee compensation is reported on Form W-2.
Pricing for 1099 Filing Services
At Seth & Alexander, we offer comprehensive 1099 filing services to help you meet your IRS compliance obligations. Our services include:
Matching TIN information from W-9 forms
E-filing of required 1099 forms
Printing and mailing of 1099 forms (optional)
We have developed a tiered pricing structure to fit your specific need
If you would like our assistance, please let us know so that we can discuss the process and start gathering data as soon as possible.
To set an appointment:
Existing clients can call us today at 713-965-7265, x-705 or email LPerez@sethandalexander.com
New to Seth & Alexander? Call us at 713-965-7265 x- 708 or email