Report

IRS Form 1099 Reporting: Reporting Requirements

 
Why file a Form 1099? It’s the law – and the IRS is increasing enforcement in this
area.

Who must issue a 1099? Generally, any business – regardless of its structure (sole proprietor, corporation, etc.) – that makes "reportable transactions" during the year must issue a 1099 to the recipient of income and to the IRS.

What constitutes a reportable transaction depends on the nature of the transaction.