Getting Ahead of 1099 Season: What Businesses Should Know

As 1099 season approaches, it’s the perfect time for businesses to prepare and stay ahead of upcoming filing deadlines. Handling these forms early helps reduce stress, avoid errors, and ensure your records are complete and compliant.

Review Your Vendor and Contractor Information

Start by confirming that you have accurate W-9 forms on file for all contractors. Verify names, addresses, and taxpayer identification numbers to prevent filing delays or corrections later.

Reconcile Payments for the Year

Cross-check the payments you’ve made against your accounting records to make sure everything aligns. Identifying discrepancies now can save time and prevent costly mistakes.

Determine Which Forms You Need

Depending on your contractor relationships and payment types, you may need Form 1099-NEC, 1099-MISC, or other variations. Understanding the correct form ensures proper reporting.

Prepare for Filing Deadlines

Many 1099 forms must be filed with the IRS and sent to recipients by late January. Planning ahead helps you avoid last‑minute scrambling and potential penalties.

Taking proactive steps now makes tax season smoother and more manageable. A little preparation goes a long way when it comes to accurate and timely 1099 reporting.