Now that we’ve settled into the New Year (despite my continuing to write 2014 on everything!), I thought it would be a good time to remind you about the issuance of required 1099 forms. I recently wrote an article for Progressive Cattleman magazine describing when ranchers need to provide 1099 forms for services provided. Please note that forms are due to recipients by January 31, 2015.
As the article explains in detail, forms should be sent to (a) any individual, LLC, partnership, or trust; (b) to whom you paid over $600 in 2014; and (c) for services. To read the article, click here.
For the IRS instructions and information on the 1099-MISC form, click here.