ACTION ITEM
SUBMIT YOUR VENDORS FOR 1099 PROCESSING BEFORE WEDNESDAY, JANUARY 17, 2024 – Use the following links to enter your information and submit to our office. For numerous vendors, you can use this file “1099 Summary Form” as in prior years. Here is a blank Form W-9, if needed. You can also find the forms and information on the HSC website by clicking here. To access these items correctly, you will need to use Chrome, Edge, or Firefox.
REMINDERS FOR 2023
Form 1099-NEC replaces the Box 7 of the 1099-MISC form 2019 and before. All nonemployee compensation entries will be reported on the new Form 1099-NEC in box 2. Form 1099-MISC box 7 will report any sales totaling $5,000 or more of Consumer Products for resale, on buy-sell, deposit-commission, or any other basis, other than in a permanent retail establishment.
WHO SHOULD RECEIVE A 1099?
Click here to get the information on who should receive a 1099 1099-MISC or 1099-NEC from you! If you paid someone $10 or more in Interest or Dividends, they will also need 1099s issued.
PENALTIES
Form 1099-NEC returns are due to the recipient AND IRS by January 31, 2024 and other Information forms due to the IRS by March 31, 2024. Penalties apply for each failure to file a timely return and each failure to furnish the recipient’s taxpayer identification number.
QUESTIONS?
Please contact Pamela Hutchens by telephone at (812) 491-1300 ext 1920 or e-mail phutchens@hsccpa.com if we can be of any assistance in preparing this information.
