Get Ahead of the Pack

With tax season around the corner, preparing and filling 1099s can be time-consuming and tedious. Avoid being penalized! Save hours of time filling out 1099s by starting as early as now!

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.

What is Form 1099 exactly?

Form 1099 is an “information return” related to different types of taxable income you have received throughout the year. This includes rent, royalties, medical & healthcare payments, as well as other payments made to non-employees. Simply put, a Form 1099 notifies the IRS that you have actually paid a certain amount of money to your vendors.

As a business owner, you will often use the Form 1099-MISC to report payments made to independent contractors. For you to complete this report, your vendors have to submit a W9 form (also known as a Request for Taxpayer Identification Number) to you. If you have not done this regularly throughout the year, catching up on your W9 collection can take time and lots of follow up with your vendors.

Difference with W-2 Forms

Form W-2 reports wages, salaries and tips. This is used for hired employees. Form 1099 (particularly Form 1099-MISC) is used for independent contractors

Our Form 1099 Services

Vertaccount believes 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.

Form 1099 Preparation

  • 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.

W9 Form Retrieval

We can contact your vendors via email and phone to collect their W9s and ensure that information lodged in their Form 1099s are accurate and up-to-date.

Vendor Payment Confirmation

  • 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.

Delivery to the IRS and Vendors

We can file your Form 1099s to the IRS and at the same time, send them to your vendors either via email (electronic) or via post (paper).


Our Rates

Hurry and get ahead! Don’t get stuck with your Form 1099s. Fill out the form below and our 1099 Team will be in touch.