SunTaxMan Posted January 25, 2008 Report Posted January 25, 2008 Do I need client to send a 1099-Misc. Quote
mcb39 Posted January 25, 2008 Report Posted January 25, 2008 Do I need client to send a 1099-Misc. Yes, if $600 or more. An LLC is considered a noncorporate entity unless it has elected to file as an S Corp. Quote
JohnH Posted January 25, 2008 Report Posted January 25, 2008 We had a lengthy discussion about this over on the Tax Book Forum, and opinions were all over the place. The instructions are not crystal clear on this, as they only relieve you form sending 1099-Misc to corporations. However, it is worth noting that the W-9 was revised in Oct 2007 and LLC's were given a space to enter their tax status (Disregarded Entity, Corp, or Ptr). That would seem to indicate that IRS is giving us a means of eliminating LLC's which indicate they are corporations from 1099-Misc filing even though the instructions don't specifically state that yet. I just finished a batch of over 160 of the pesky 1099-Misc, and that's the policy I followed. If they told us they are an LLC and received $600 or more, they got a 1099-Misc unless they certified for us that they are an LLC being taxed as a corp. Quote
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