Barry Moser, C.P.A., Willing & Moser, An Accountancy Corporation. Barry wanted to thank everyone who has referred to him. Compliance: Business License, 1099’s Tax Returns, Personal Property Statements, Statement of Information and Estate Taxes are just some of the issues that the IRS requires.
1099’s are an issue that many businesses overlook. There is a penalty for failure to file at $15 per information return up to $25,000 if filed by March 30. In the past, the IRS has not been too strict, but this year there are severe economic penalties. Several years ago, the IRS required companies to issue 1099’s to all attorneys. These penalties will double in 2011. If you own rental property, you must supply 1099’s to anybody who does work on that property including gardeners and repair people. W-9’s will be necessary for all vendors.http://tinyurl.com/27rg8hc
No comments:
Post a Comment