1099 FILING FOR CONTRACTORS
Take 1099 Filing off your Year-End TO-DO List
Excel Consulting helps contractors review subcontractor records, resolve missing information, prepare required 1099s and get them filed.
Review payments made during the year and confirm the subcontractors eligible for a 1099 filing.
Identify missing or incomplete W-9s and other discrepancies before forms are prepared.
Prepare required 1099 forms, file them the IRS and provide recipient copies as required.
YEAR-END 1099 REVIEW
Filing the 1099 is the Last Step — Not the First
Accurate 1099 filing starts with reviewing the subcontractor and vendor activity for the year. Before forms are prepared, Excel Consulting reviews the accounting records to identify who was paid, determine which vendors may require 1099 reporting and verify that the information needed for filing is complete.
The Year-End Review May Include:
- Running vendor or subcontractor payment reports
- Reviewing detailed subcontractor expenses
- Identifying vendors that may be subject to 1099 reporting
- Reviewing tax classifications on file
- Confirming eligible vendors are properly marked for 1099 tracking in QuickBooks
- Checking for completed W-9s
- Confirming legal business names and taxpayer identification numbers
- Identifying missing or incomplete information before forms are prepared
A 1099 Is Only as Accurate as the Information Behind It
Generating the form is easy. Making sure the right subcontractors are included — and the information on those forms is correct — is where the year-end review matters.
READY TO GET 1099s OFF YOUR PLATE?
Let Excel Consulting Handle the Year End Review and Filing
Get your subcontractor records reviewed, missing information identified and required 1099s prepared and filed without turning January into a paperwork scramble.
Frequently Asked Questions
Do you actually prepare and file the 1099s?
Yes. Excel Consulting can review your subcontractor records, identify missing information, prepare required 1099 forms and handle the filing process.
Which subcontractors need to receive a 1099?
Not every vendor or subcontractor automatically requires a 1099. Whether reporting is required can depend on the amount paid, the type of payment and the recipient’s tax classification. Excel Consulting reviews your vendor and subcontractor records before forms are prepared.
Do corporations receive 1099s?
Many payments to corporations are generally exempt from 1099 reporting, although exceptions apply. That is one reason Excel Consulting reviews the tax classification shown on each subcontractor’s W-9 rather than simply issuing a form to everyone who was paid.
What if I’m missing W-9s?
Excel Consulting can identify subcontractors with missing or incomplete W-9 information so you know which records need follow-up before the forms are filed. Ideally, W-9s should be collected during subcontractor onboarding rather than chased down at year-end.
Learn About Subcontractor Onboarding →
Can you file 1099s if my books are not completely cleaned up?
It depends on the condition of the records. If subcontractor payments are incomplete, incorrectly categorized or difficult to verify, some bookkeeping cleanup may be needed before accurate 1099s can be prepared.
Learn About Bookkeeping Cleanup →
What if I discover an error after a 1099 has already been filed?
Corrections can often be filed when information on a previously submitted 1099 is incorrect. Excel Consulting can help determine what needs to be corrected and prepare the appropriate re-filing.
Learn About Bookkeeping Cleanup →
What if I discover an error after a 1099 has already been filed?
Corrections can often be filed when information on a previously submitted 1099 is incorrect. Excel Consulting can help determine what needs to be corrected and prepare the appropriate re-filing.
Learn About Bookkeeping Cleanup →
When should I contact Excel Consulting about 1099 filing?
Earlier is better. Reviewing subcontractor records before year-end gives you more time to resolve missing W-9s and other discrepancies before filing deadlines arrive.
Get on the Tax Filing Schedule →