The Internal Revenue Service requires the filing of Form 1099 for every person or business to whom you paid $600.00 or more in your trade or business for commissions, fees, and other forms of compensation for services rendered during 2012. Examples of payment for services that should be reported include rent paid, outside labor, management fees, legal fees, accountant fees, medical fees, and repairs & maintenance.<\/p>\n
The IRS and state taxing authorities can assess penalties for failure to file these forms. Additionally, they may disallow these deductions if you do not file.<\/p>\n
You are not required to file Form 1099 for 2012 if the person or business to whom you paid is a corporation, unless the payments are made to an attorney or to a medical or health service provider registered as a corporation.<\/p>\n
If you would like LMGW to prepare the required forms for you, please fill out the\u00a0LMGW 1099 request form<\/a> and return it by sending an email with the request form attached to 1099@lmgw.com<\/a>. You can also fax or mail back the request form to the fax number and address listed below.<\/p>\n