Form 1099 Compliance Services
At Model & Ledger, we understand that managing 1099 filings can be a time-consuming task for small business owners, but it’s an essential part of maintaining compliance and avoiding potential penalties. If you work with independent contractors, vendors, and other service providers, it’s crucial to file these forms accurately and on time to ensure smooth tax reporting and protect your business.
We’re here to make the process as easy as possible. Our firm is here to manage the details, assisting your business in maintaining IRS compliance, giving you peace of mind and allowing you to focus on what you do best—running your business.
Who Can Benefit From 1099 Services?
If your business makes payments to independent contractors, vendors, or other service providers, you may be required to file 1099 forms to stay compliant with IRS regulations. The most common 1099 filing requirement arises when you pay $600 or more to a non-employee for services in a given year. Failing to file these forms accurately and on time can result in significant penalties, so understanding when and how to file is vital.
Common situations that require 1099 filings include payments for services like accounting, consulting, freelance work, legal services, and rent. If you're unsure whether a payment qualifies, it’s always best to reach out. Getting professional help can provide clarity, reduce the risk of non-compliance, and help manage the task efficiently.
Should you require further clarification or want to discuss your specific circumstances, please connect with us.
Your Experience With Us
Please Note: Our 1099 compliance services are available exclusively to clients who engage with our monthly bookkeeping services. If you're not currently a monthly bookkeeping client but are interested in this service, we’d be happy to discuss how you can get started.
Initial Consultation
We’ll start with a brief consultation to understand your needs and request a simple list of diagnostic documents. This helps us determine the services that best align with your business goals.Proposal & Engagement Letters
As noted above, 1099 compliance services are exclusively offered to clients who engage with our monthly bookkeeping services. As such, any desired 1099 services will be included in a combined proposal.
After you accept, we’ll formalize our partnership by sending a combined engagement letter for the services included in your package.
Review of Your Records
After receiving your signed engagement letter, we’ll begin reviewing your accounting records to identify any vendors or service providers who may need to receive a 1099. We’ll also reach out for any additional details or W-9 forms as needed.
Evaluation of Filing Requirements
Based on the information you provide, we’ll evaluate whether any vendors may require filing under IRS 1099 requirements. If required, we’ll prepare the necessary 1099 forms for your review.
Client Review & Approval
Once the 1099 forms are prepared, we’ll send them to you for review. After you’ve approved the forms, we’ll move forward with filing them.
Filing & Distribution
After your approval, we’ll file the 1099 forms with the IRS and assist with distributing them to the vendors or service providers.
Is your business prepared for 1099 filing season?
We’ll assist with your 1099 filings, so you can focus on running your business.
Disclaimer
Our firm provides the information on this website for general informational purposes only and does not offer legal, tax, accounting, investment, or consulting services through this site. The content is not intended as a substitute for professional advice tailored to your specific circumstances. For guidance relevant to your individual situation, we encourage you to consult a qualified professional familiar with all the facts of your case.
Please note that the content on this site cannot be used by any taxpayer to avoid penalties imposed by tax authorities. The information is provided "as is," without warranty of completeness, accuracy, or timeliness, and we do not guarantee its suitability for any particular purpose. The information is subject to change without notice. If you're seeking more personalized advice, our team is available to discuss your specific needs.