In the News: J.H. Cohn’s Neil Becourtney Gives Advice on Filing 1099s
2/10/2012
J.H. Cohn's recent tax alert, 1099 Filing Requirements for Business Taxpayers, stated that as business owners begin to file their income tax forms this year, they will notice two new questions concerning requirements to file Form(s) 1099.
Neil Becourtney, CPA, a J.H. Cohn partner, was recently quoted nationally in The Associated Press wire about things you need to know about 1099s.
Neil believes the government has included the new questions on tax forms because it wants to get more companies to comply with the tax law. “They want taxpayers to announce that I as a corporation or partnership or sole proprietor filing a schedule C have reason to issue 1099 forms,” Neil said.
He also explained many businesses wrongly believe that 1099s are intended only for individual recipients. If you hired a law or accounting firm and paid more than $600 in fees, you need to send a 1099.
Click here to read the article on Yahoo! News. The article has been picked up nationally in 49 news outlets, including The Huffington Post, UT San Diego, and ABCNews.