Tax
Sep. 10, 2011
Lawyers and IRS Form 1099: Better to give than receive?
Why the Internal Revenue Service loves Forms 1099 - and why you should pay attention to the rules that apply.
Robert W. Wood
Managing Partner
Wood LLP
333 Sacramento St
San Francisco , California 94111-3601
Phone: (415) 834-0113
Fax: (415) 789-4540
Email: wood@WoodLLP.com
Univ of Chicago Law School
Wood is a tax lawyer at Wood LLP, and often advises lawyers and litigants about tax issues.
Lawyers and law firms send as well as receive Forms 1099. But lawyers don't always have to issue them, especially to clients. Nevertheless, the Internal Revenue Service will hardly criticize you for issuing more of the ubiquitous little forms. In fact, in the IRS' view, the more Forms 1099 the better. Forms 1099, which are issued in January for the preceding calendar year, report payments to taxpayers - with a copy to the IRS.
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