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1099 waiver to summit

Discussion in 'Business Fundamentals' started by TPC Services, Oct 26, 2008.

  1. TPC Services

    TPC Services Senior Member
    Messages: 875

    Does any one have as waiver to summit form laying around or in a PDF file they can email or fax to me.

    It's just a waiver or release that you hand out to your contractors to sign ssaying they agree that I will be filing and giving them a 1099 to do work for me this year.

    I can't find mine at all since the computer crashed I thought I back it up but guess not.

  2. tc21

    tc21 Member
    Messages: 47

    www.Irs.gov. They should have the form ot print out.
  3. JMR

    JMR Senior Member
    Messages: 567

    The IRS requires you to send a 1099 to anyone not incorporated that you pay $600 or more to that is not on your payroll. The form used for gathering the informaion is a W9 http://www.irs.gov/pub/irs-pdf/fw9.pdf I also get a copy of / proof of insurance.
  4. Woodland

    Woodland Senior Member
    Messages: 269

  5. TPC Services

    TPC Services Senior Member
    Messages: 875

    thanks there tc21 & Jmr not to be a A#$, but I should have put in here that Yes I now the ends and outs of turning 1099's in for my subs and getting prof of insurance. I've already check IRS other wise I would not have posted this,
    there is not a waiver form in the IRS web site ,saying that the sub acknoliges that they are responsable to claim what I am claiming I pain them!
    it's just a genaric form that I had last year that a freind of mine gave me and I have no clue where it went to, an I no linger talk to this person to ask him to give it to me again.
    Last edited: Oct 29, 2008
  6. JMR

    JMR Senior Member
    Messages: 567

    Your legal responsilibity is to gather the info with the W9 and send them the 1099. You then file a 1096. Whether they file and claim the 1099's recieved should have no bearing on you. As long as you comply with the IRS regulations is all that really matters.
  7. TheSnowBlaster

    TheSnowBlaster Junior Member
    Messages: 8

    I am familiar with 1099 process and the above poster is correct. It is not your responsibility to make sure that they file with the IRS. It will throw a flag up on their taxes if you submit a 1099 to them and they do not claim it, but does not guarantee an audit.
  8. SnoFarmer

    SnoFarmer PlowSite Fanatic
    from N,E. MN
    Messages: 9,883


    I send out and get 1099's all you need is their name, address, S,S.# or there EIN.#
    fill in how much you paid them and send a copy to the irs and your sub.

    What they do with it is there business if they chose to pay there taxes or not.
    there is no waiver that i know of.

    ho yea if they make under$ 500 a year from you then don't need to do anything.
  9. TPC Services

    TPC Services Senior Member
    Messages: 875

    yes I have them all fill out a w-9 I am going the waiver as told by my CPA I just call him up and have him send it to me!!! It's a CYOA document just in case youhave one ass of a sub that tells the Irs guy that he was not told he had to turn it in! that way it CYA
    HAs a freind have that happen to him. that way you have prof I do 'nt care but If I have that it helps me from having a audit!