Questions on Filing 1099's
Hi,
I am filing 1099's for my company for the first time, I have a couple of questions that are not clear to me in the IRS documentation.
It says that you do not issue a 1099 for merchandise. Our company purchases molds that a tooling shop produces for us, many of them are not incorporated; however, the end product is a "mold" or merchandise. I am confused because technically we do hire them to produce the mold, so I am confused as to whether I should issue them a 1099 or not. This also happens with other repair parts for equipment that are technically fabricated for us, but in the end we get the part, which is merchandise.
I'm am also not clear on non-profits that provide education, I know they are not for fundraising, but an example is Red Cross providing CPR training.
Advertising Services for help wanted ads - like newspapers.
Are Temporary Labor Employment Agencies reportable if not incorporated?
Thank you.
Follow-Up for filing the 1096
When I file with the IRS - and I have corrections to 1099's that I know about, but haven't sent a corrected copy to the vendor yet, do I file with the IRS exactly what I sent to the vendor on the first 1099 (that either didn't have the tax id or apparently the wrong tax id) -when filing the 1096?
So when I originally sent to vendor I was missing the tax id on one, vendor had not returned the W9 and on another, had apparently been given the wrong tax id and received a new W9 after I sent the 1099.
Thanks.