Important 1099 Filing Information for Businesses

---

 Preparing for 1099 filings can be a daunting task, but D2D Consulting is here to help. Our team simplifies the process by working with you to:

• Sort Through Your Vendors: We’ll ensure you have correctly identified which vendors require 1099 forms.

• Verify and Update Vendor Information: From ensuring W-9s are complete to updating email addresses for electronic filing, we make sure your records are accurate and up to date.

• Streamline the Filing Process: We assist with electronic submissions, so you can meet IRS deadlines with ease.

By partnering with D2D Consulting, you can save time, reduce errors, and focus on running your business while we handle the complexities of 1099 reporting.

Key Information for 1099 Filings

1. Who Requires a 1099 Form?
A 1099 form is required for vendors or independent contractors who have been paid:

Note: Corporations are typically exempt, except for attorneys and medical providers.

 - $600 or more during the tax year for services performed.

 - Royalties amounting to $10 or more.

 - Payments for certain rent, prizes, or legal settlements.

2. Deadlines to Keep in Mind

 - January 31, 2025: Send 1099-NEC forms to recipients and file with the IRS.

 - February 28, 2025: File paper 1099 forms (other than NEC) with the IRS.

 - March 31, 2025: File electronically for all 1099 forms.

3. Avoid Common Mistakes

 - Incorrect or missing TINs can lead to IRS penalties. Always verify TINs against the W-9 form.

 - Collect a completed Form W-9 from your vendors and contractors as soon as they start working for you.

 - Missing deadlines may incur penalties starting at $50 per form.

 - Double-check all payments to ensure qualifying vendors aren’t overlooked.

At D2D Consulting, we help businesses streamline operations and manage compliance tasks like 1099 filings. By preparing early — organizing payment records, gathering W-9s, and optimizing accounting systems — you can reduce stress and ensure accurate, timely reporting. Let us help you minimize risks, maintain compliance, and navigate tax season with confidence.