![]() ![]() The IRS – justifiably so – wants to know how much your subcontractor was paid, and whether your subcontractor reported the income on his tax return. Section 6041 of the Internal Revenue Code requires a business that pays more than $600 to a subconcrator to send the IRS a Form 1099-MISC reporting the amount paid. ![]() Remember, proving an expense under tax code Section 162 does not require the sending of a Form 1099. They are both important, but they are two different things. That’s right – Rule 1 is about your ability to prove your expense Rule 2 is about the IRS tax enforcement to your contractors.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |