Jan
06
Question by jcowens2007: If you dont 1099 an attorney for services, what is the worse case scenario?
1. I have a C- Corp.
two. We paid lawyer for services.
three. I did not 1099 the attorney. I deduct the legal services on 1120 Tax Return.
Whats the worse that can occur? What is the point of the 1099?
Best answer:
Answer by cakeypoo_24
go to www.efilemyforms.com and file the 1099…you now have til the end of march to submit the 1099. worst case senario…the irs does not allow it and you have to pay tax on that sepcific quantity of funds
Know much better? Leave your own answer in the comments!
More From localservicesfinder
- How do I unclog a sink clogged with potting soil?
- What happens when you get a title loan and the DMV mails you the title instead of the loan company?
- What are the greatest cars to get if you have high risk insurance?
localservicesfinder Recommends
IRS denies the expense deduction at audit and slaps you with a penalty for not filing it.
is the attorney incorporated himself? he doesn’t need a 1099
there are penalties for not filing a 1099 as required