TO:        Our Clients

 

FROM:   Paul F. Sullivan, CPA

              Dan Fannin, Business Services Manager

 

RE:         Form 1099


All companies have a requirement to file Form 1099 by January 31, 2014. Businesses should issue a Form 1099-MISC to each person whom you have paid during the year $600 or more. The form should be provided to the person by January 31, 2014 and should be mailed to the IRS along with Form 1096 by February 28, 2014 or filed electronically by March 31, 2014.

Additionally, a Form 1099-MISC is required for services paid to attorneys regardless of their entity type.

Examples of payments that might require a Form 1099-MISC would be rents, attorney's fees, contract labor, director's fees, commissions, and any compensation not included on a W-2.

Penalties for failure to file Form 1099 with the IRS and failure ~ to provide copies of 1099s to payment recipients range from $100 to $250 per Form 1099.

Please let us know if you have any specific questions in regards to Form 1099 or if we can be of assistance with issuing your 1099s this month.

Please pardon the reminder if we are already assisting you with this filing.

 

Very truly yours,

 

Sullivan & Company, CPAs
 



4709 Montgomery Lane | Bethesda, MD 20814

Phone (301) 657-8080 | Fax (301) 657-9055
Website:
www.esullivan.net | E-mail: psullivan@esullivan.net
 

The opinions contained herein are not intended to be investment advice or a solicitation to buy or sell any securities. Information obtained from sources deemed to be reliable, but accuracy or completeness is not guaranteed. Past performance is not a guarantee of future results. Performance figures contained herin do not represent actual client portfolios or results. Actual results may significantly differ from the model portfolio returns presented. Archer Investment Corporation manages the Archer Funds. You should carefully consider the investment objectives, potential risks, management fees, and charges and expenses of the Funds before investing. The investment return and principle value of an investment in the Funds will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. The Fund prospectus contains this and other information about the Fund, and should be read carefully before investing. You may obtain a current copy of the prospectus by calling 800-581-1780.
 
 
 
 
 

Sullivan & Company | Certified Public Accountants | 4709 Montgomery Lane #201 | Bethesda, MD, 20814 | 301-657-8080