Nan Eklund wrote:

- quote -

I thought your's was a sub S?

Cheer$,
harlan Lunsford, EA on the other side.

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Ed Zollars, CPA wrote:

- quote -

I actually printed a sign that I carry in my briefcase for
those occasions:

DON'T BLAME THE IRS!
WRITE TO YOUR REPRESENTATIVES IN CONGRESS AND THE PRESIDENT!

--
Alan
http://taxtopics.net

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Arthur Kamlet wrote:
- quote -

.....Although the instructions for "B" say ATTORNEYS. Other
"legal services" such as process servers DON'T have
mandatory reporting if they are incorporated.

You also forgot that the 1099-misc got "fishy" this year:
c) Fish purchases (usually then sub-reported in box 5)

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How about personal service corporations?
We're squeeking clean........aren't we.....

Nan, EA (and president of a personal services tax company).

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Arthur Kamlet wrote:

- quote -

You are assigning responsibility to the wrong
party--information reporting responsibility is doled out
under the IRC itself, and the last time I checked only the
United States Congress had the authority to put anything in
there (the President can act via the veto to try and keep
something out, and the courts can strike down a provision,
but you have to get the Congress to go along with any move
to place text in there--so this is their baby).

I point this out because our Congress-critters have done an
excellent public relations job of somehow convincing the
country they have nothing to do with anything someone might
find objectionable in the IRC--in those cases, they've
gotten the public to blame it on the IRS. Now, the IRS is
responsible for some things--but not this one.

Mr. Thomas and/or Mr. Grassley are where you start if you
want this changed...

--
Ed Zollars, CPA
Phoenix, Arizona

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Nan Eklund <naneklund[at]aol.com> wrote:

- quote -

Except for a) healthcare corporations and
b) legal services corporations

who, I gather, the IRS thinks do not report their income
honestly? :^)

__
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Individuals yes, corporations no. They seem to think
corporations report all their income honestly. (g)

Nan, EA in LA

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3D Peruna wrote:

- quote -

Corporations do not receive 1099's. However it is incumbent
on you to have documentation in your files. There is a
form for this, no doubt you've seen it? a W-9 form, on
which the payee certifies his business structure
(proprietor, partnership or corporation) and whether or not
he is subject to backup withholding.

The law says you must have one of these on every payee
before you pay them the very first dollar; and if not,
withhold a rather large percentage for taxes, irrespective
of whether or not you will wind up paying them over 600$ by
year's end.

Last time I looked that percentage was 31%.

Cheer$,
Harlan Lunsford, EA n LA

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I have a small professional services firm that frequently
uses other consultants as part of my services. I know that
the self-employed guys get 1099's. What about the
professional corporations that I have used?

Thanks,

Paul

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