I got a frantic phone call on Friday from the Guild treasurer. It seems that a program presenter from last year had called her and wondered why we had not sent her a 1099 for the workshop and program that she presented last year.
For those that don't know, a 1099MISC is issued for Professional Services if the charge is over $600. The deadline for these to be sent to the Professional is Jan 31 and the reporting date to the IRS with a completed corresponding 1096 form is February 28.
My friend, the treasurer, called me because she knew I filed these for my business and she hoped that I still had blank forms. She had never done this before.
I had the forms, but I had no information. I didn't even have a tax ID number for the Program lady.
I put in a phone call to her and got the form set up on my computer and just crossed my fingers.
She finally called me late in the day and we went through it step by step. We determined that enough of her compensation was reimbursed expenses and she really didn't need a 1099 from us. (the total was just barely over $600)
The prep work is done - IF the IRS doesn't change the form! - and we are ready to file the forms in the future.
My question is, does your guild file 1099's for your program presenters? It's hard enough to get volunteers to be treasurer. This will send people around the bend.
Cindy