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R. Klein, EA
R. Klein, EA, Accountant
Category: Finance
Satisfied Customers: 3375
Experience:  TurboTax Expert. QuickBooks Certified Pro Advisor
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My name is ***** *****. I work as an independent contractor

Customer Question

My name is ***** ***** Christopher. I work as an independent contractor for Victorian Vanities, Inc. a 501(c)(3) corporation. I file the tax returns for the corporation. Two companies have issued the corporation 1099's. Victorian Vanities makes less than 25K per year and is only required to do a postcard. What am I supposed to do with the 1099's issued to the corporation. The corporation is incorporated in Pennsylvania.
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Submitted: 1 year ago.
Category: Finance
Expert:  R. Klein, EA replied 1 year ago.

Hello, and thank you for your tax question today.

In regard to receiving 1099s, you just ignore them in this situation, assuming that the total of these two documents is less than 25K. Normally, payers are not supposed to send 1099s to corporations, but when the sender is unsure, it is safer for the payer to send the document than to get a fine for not sending one.

If this satisfies your question, please take a moment to rate the answer. If you need further assistance or clarification, please post a follow-up question and I will be sure to respond.