Dec. 27, 2014
Everything you need to know about IRS Forms 1099
No one likes receiving Forms 1099. Most people don't like issuing them either. But as the IRS is increasingly driven by information reporting, it is wise to pay attention to these rules.
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.
No one likes talking about Forms 1099. If you receive them, it usually means reporting them as income. If you issue them, some people may complain or say you misreported. And if you fail to issue them, the Internal Revenue Service may come looking for penalties. But make no mistake, these forms matter, with many tax audits being driven solely be mismatches in information reporting.
Forms 1099, issued in January for the preceding calend...
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