I am an employer and one of my contractors stated back in the beginning of 2007 that he was Incorporated but believe that he is just a sole proprietor. He then told me that he as in the process of converting from a sole proprietor to a C or S corp. We are now 3 days past the deadline for filing a 1099 for this contractor.

I would need to know what I need to do, as well as the contractor.

Thanks,
Richard

Give the contractor a Form W-9. He is legally obligated to return it to you so you can properly determine his status.

If he is was a sole proprietor on 31 December 2007, then you need to prepare a Form 1099-MISC for him.

I believe the submission deadline for Form 1099 is 15 February 2008.

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Originally Posted by AtlantaTaxExpert

Give the contractor a Form W-9. He is legally obligated to return it to you so you can properly determine his status.

If he is was a sole proprietor on 31 December 2007, then you need to prepare a Form 1099-MISC for him.

I believe the submission deadline for Form 1099 is 15 February 2008.

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I will give him the W9. Thanks, a lot!

Glad to help!

Quote:

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Originally Posted by rtsconsulting

I am an employer and one of my contractors stated back in the beginning of 2007 that he was Incorporated but believe that he is just a sole proprietor. He then told me that he as in the process of converting from a sole proprietor to a C or S corp. We are now 3 days past the deadline for filing a 1099 for this contractor.

I would need to know what I need to do, as well as the contractor.

thanks,
richard

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Hi, thank you... i now have another issue related to this. Since i sent out all my 1099's by january 31, and i mailed out the 1096. What do i do next?

I obviously have to issue the 1099... but do i, can i file a second 1096?

Richard

Yes, a second Form 1096 is required.