Did you know businesses are required to file Form 1099 to report payments paid to vendors or independent contractors by January 31st? All businesses are required to issue a 1099 to any individual or business which you paid $600 or more during calendar year 2024. The only exceptions are:
Wages or salary paid to a W-2 employee, or
If the payee is a Corporation or a Tax-exempt Charity.
These 1099’s must be issued no later than January 31st. Failure to file can result in penalties of up to $630 per form.
CS CPA Group can simplify this process for you. We can take data and mail 1099’s to all of your independent contractors and vendors. We will also file the 1099s with the IRS as required by law. Our fees for filing the 1099 are:
1-9 1099’s – $20 each
10-49 – $15 each
50+ – $12 each
To file your 1099’s, you can send an email to 1099@cscpagroup.com with the following information:
Your company name and EIN
Vendor or Contractor name
Vendor or Contractor Address
Vendor Tax ID Number
Total paid during calendar year 2024
If you have any questions, please give us a call at 520-568-3303.
Your friends at CS CPA Group
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