REMINDER!!
Individuals
1. If you receive 1099-Misc income make sure that you've provided the correct Tax Id,Name, and Address to the issuer. Otherwise you may not receive your 1099 on time, don't wait until the last minute!
2. If you recieve W2 income be sure to submit any address changes and name changes to your current employer or ex-employer. Otherwise you may not recieve your W2 on time, don't wait until the last minute!
Businesses
1. Now would be a good time to start sorting through your payables to determine if you've paid over $600 to an non-employee. If so you will have to issue a 1099-Misc. Send requests for personal information early so that you can submit information returns on time!
Reg. §1.6041-1(a)(2)
2. Ask employees to submit revised W4's if any of their personal information has changed!
Comments