1099s processing is approaching. 1099s need to be sent to the recipient by 1/31/15. If you do not have TINs (taxpayer identification numbers) for all your 1099 recipients, now is a good time to send out W9s to obtain the TIN.
W9s and 1099 MISC instructions are provided in the links below:
W9
1099 MISC Instructions
The instructions will provide information on who should be issued a 1099-MISC.
Keep in mind, QuickBooks Desktop software and Intuit Online Payroll provide options for 1099 processing. QuickBooks software provides processing through the Vendor menu. Online Payroll provides independent contractor 1099 processing along with company payroll.
To properly process 1099s in QuickBooks Desktop, the software must be mapped to the chart of accounts so the totals for the recipient are correctly tabulated. Contact LFC if you need help with 1099 processing.
Contact: info@lfconinc.com
