1099: Landlords be Aware of the New 1099 Law
- 06/24/11 09:23 AM
Landlords be aware of the new 1099 law... Since the beginning of this year, Jan. 1, 2011, any person who receives rental income must provide a Form 1099 for all payments of $600 or more made to service providers. The Form 1099 is provided to the IRS and to the service provider. The new requirement applies to both residential and commercial property. Landlords will now be required to obtain certain information from their vendors/contractor, such as their name, address, and social security number or tax identification number. You will also need to keep track of the amount of money that you … (3 comments)
Landlords be aware of the new 1099 law...
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