Were you unable to attend our latest webinar? Orion partnered with Michael Marget of 4L Law Firm Services, to provide our Clients with the most up-to-date information regarding 1099 processing at their firms.
Fourth 1st Annual “To 1099 or Not to 1099” Webinar
This is a friendly reminder to our Clients and friends: The deadline for providing 1099’s to “1099-reportable payees” is just a few months away. The 1099 IRS reporting deadline is approaching quickly as well.
1) Are you up-to-date in reviewing all firm bank accounts (including Client Trust Accounts) to identify all 1099-reportable payees?
2) Do you have W-9’s on file from all of your 2014 1099-reportable payees?
3) If you plan to or are required to file electronically this year (250 or more 1099’s) have you previously established an account on the IRS Filing Information Returns Electronically (“FIRE”) System? (The IRS suggests you allow at least 45 days for processing a new FIRE account)
If the answer to any of those three questions is “No” it’s time to start getting all your ducks in a row. January is always busy enough as it is and 1099 reporting requires a lot of time if things are not planned out in advance. Take a moment to watch our recording.