The year is drawing to a close and Form 1099s are just around the corner. This is a mandatory tax form that all businesses are required to file. It can be a headache to track and file especially if you have a lot of vendors and independent contractors.
At Vertaccount, we believe that getting a head start on this process is the best practice. Form 1099 Preparation is time consuming and requires a lot of follow-up and coordination with your vendors.
That’s why, we are offering a 20% discount on our Form 1099 services if you sign up by December 5, 2016.
Our Form 1099 Services
Here is what we can do for you:
- Help identify 1099 vendors to ensure no one is missed.
- Compilation of Form W9s to ensure IRS compliance.
- Identification of payments made to vendors.
- Identification of non-income payments to prevent double reporting of income! (e.g. reimbursements)
- TIN matching with the IRS to minimize IRS penalties.
- What is recorded in your books as a cash payment maybe a reimbursement to the eyes of your vendor. What is classified as an income may actually be an expense. Discrepancies like this do occur especially when dealing with multiple vendors. These may cause inaccuracies in the Form 1099s filed.
- To avoid such errors, it is best to confirm with vendors that payments recorded are indeed accurate. We can email and call your vendors to ensure that your records of payments match.
There’s a new deadline and you can read all about it here.
So hurry and beat the deadline! Don’t get stuck with your Form 1099s. Fill out the form below and our 1099 Team will be in touch.