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Tax Professional Answers
Jim Marshall, EA
You should send 1099-Misc’s to any casual labor or contract that you pay more than $600 per year. This includes individuals, LLC’s and partnerships. It does not include corporations or Sub-S corporations. The IRS is increasing scrutiny of this issue and have recently increased the penalty to $260 per 1099 that is not filed.
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307 weeks ago
Charles Woodson, EA
Filling requirements for 1099-MISC is $600 or more.
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307 weeks ago