Beginning this year, corporations must report on their corporate tax return if they are required to file Form 1099 and whether they have filed all that are necessary. The IRS added the following question to the 2011 return in order to better track the 1099s that are not being filed:
a. Did the corporation make any payments in 2011 that would require it to file Form(s) 1099?
b. If Yes, did or will the corporation file all required Forms 1099?
You are required to file a 1099 for any service for which you paid more than $600 in the calendar year – including independent contractors, freelancers, lawyers and accountants.
If you have any questions or would like additional information, contact your Barnes Dennig representative at (513) 241-8313.