This is the property of the Daily Journal Corporation and fully protected by copyright. It is made available only to Daily Journal subscribers for personal or collaborative purposes and may not be distributed, reproduced, modified, stored or transferred without written permission. Please click "Reprint" to order presentation-ready copies to distribute to clients or use in commercial marketing materials or for permission to post on a website. and copyright (showing year of publication) at the bottom.
Subscribe to the Daily Journal for access to Daily Appellate Reports, Verdicts, Judicial Profiles and more...

Tax

Apr. 3, 2024

IRS Form 1099 playbook

IRS Forms 1099 are important tax forms for lawyers and clients, as they report income and allow computer matching of Social Security numbers and dollar amounts paid.

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.

Shutterstock

Lawyers and clients care about IRS Forms 1099, which allow computer matching of Social Security numbers and dollar amounts paid. In most cases, Forms 1099 report income, so if you receive a Form 1099, check the numbers. You may not be able to change it, but you’ll usually need to report it on your tax return. Errors in reporting occur, so if you believe a Form 1099 is wrong, you may be able to get the issuer to correct or undo it.

Suppose ...

To continue reading, please subscribe.

Already a subscriber?

Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)