1099 Questions

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Dawson, Smith, Purvis & Bassett, PA

Certified Public Accountants

Richard B. Dawson, CPA 15 Casco Street
David E. Smith, CPA Portland, Maine 04101-2902
Eric A. Purvis, CPA/ABV, MST, CVA Tel (207) 874-0355
Joel H. Bassett, CPA/PFS, CMA, CIA Fax (207) 874-0865
Kirk J. Purvis, CPA, CFEwww.dspbcpa.com
William H. Souter, CPA, MST
Craig M. Pike, CPA
Adam P. Johnson, CPA
Patricia S. Hodgdon, CPA
Jeremy S. Handlon, CPA
Kevin M. Brunelle, CPA, CVA
Michael P. Kelly, CPA
Karla J. Brannen, CPA

January 21, 2012

Dear Clients and Other Friends:

This is to inform you that the Internal Revenue Service has added two new questions related to Form 1099 filing on the following 2011 business income tax returns; Form 1120, Form 1120S, Form 1065, and Schedule C of Form 1040. The questions read:

  • Did you make any payments in 2011 that would require you to file Form(s) 1099?
  • If “Yes,” did you file or will you file all required Forms 1099

Filing Forms 1099 is not a new requirement. However, 2011 is the first year you must disclose if you complied with the filing requirement. In light of this new disclosure, we encourage you to review your compliance with the Form 1099 filing requirements and file all necessary forms.

As always, if you have any questions about the Form 1099 reporting requirements, please call or email our office.

Very truly yours,