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Lily Chambers

Gear up for year-end NOW! :)

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United States IRS regulations require all vendors who were paid $600 or more during the prior fiscal year to be issued a 1099 Form by the business who paid them. The IRS then uses this information to verify the amount of income reported on annual tax returns by the vendors.



First, be sure your QuickBooks vendors that should be issued 1099s are set up properly in QB. If you don’t have their tax ID information, Now is the time to request it (send the vendors a W-9 to request the tax ID information.)



Now is also the time to order your blank 1099/1096 and W-2/W-3 forms from the IRS. Visit www.IRS.gov/orderforms. Click on Employer and Information Returns, and they’ll mail you the forms you request for free!



Unsure how to do your bookkeeping? Then it's time to order my book! "How To Do Your Own Small Business Bookkeeping".


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