Never again miss a 1099 filing with help from the tax professionals at KPMG Spark.
1099 forms are a part of life for most small business owners. From issuing 1099 forms to independent contractors to remembering to include dividends and other income reported to you on 1099s for tax purposes, it can be very easy to miss filing dates when business gets busy. The KPMG Spark team can help ensure that your IRS Forms 1099 are completed and submitted on time, so you never have to worry about missing a deadline again. As part of our tax preparation services, the accountants at KPMG Spark will work with you to ensure all 1099s are submitted correctly and ahead of deadlines – so you can focus on your business, instead of on forms.
1099 tax preparation is offered as a feature of KPMG Spark tax preparation services. Your dedicated KPMG Spark accountant will work closely with you and your bookkeeping team to ensure all tax information returns are submitted correctly and at the right time. They will make sure all 1099 forms associated with your business are properly completed, sent to the freelancers and contractors you have worked with, as well as submitted on behalf of your business. This includes all common 1099 filings, such as:
Reportable 1099 income may include interest, dividends, rents, or compensation for certain freelance work. Your KPMG Spark CPA will review your financials and determine which 1099s you need to file. Here are a few common 1099 filings and their respective uses:
If you have invested money on behalf of your business or if personal investments have garnered 10 dollars or more in interest over the last year, you will receive a 1099 INT form from the financial institutions that hold your investment funds.
If you have paid a (non-employee) freelancer or contractor $600 or more in compensation in the last year, you will need to send that individual a Form 1099-NEC. If you performed work as a freelancer or contractor, you should receive this form from the business with which you contracted.
If you or your business has received money from the government over the last year, you will likely receive a Form 1099-G.
Form 1099-MISC is used to report earnings from non-employee compensation. This might include money received from rents, prizes, or royalty payments.
KPMG Spark is equipped to submit the 1099 forms that are appropriate for your business. KPMG Spark can help you determine which are the appropriate forms.
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There are many types of Forms 1099, but each one inevitably serves the same purpose; and they are important to understand for payors, including financial institutions and small businesses alike.
Before 2020, if you made NEC payments, you provided a Form 1099-MISC to the contractor and the IRS to report the amount of the payments. However, this year the IRS has introduced a new form solely for reporting non-employee compensation paid to independent contractors.
Yes. As part of the KPMG Spark tax preparation services, we will assist you with sending out the correct 1099 form to contract workers.
If you are a KPMG Spark tax preparation client, you should collect and save all 1099 forms. These forms will be sent to your Spark CPA at tax time.
Yes, we prepare both personal and business tax returns for all KPMG Spark clients. This includes 1099 forms that pertain to investments and other business activities.
Yes, we can prepare returns for all 50 states in the US.