Smith Dickson, An Accountancy Corporation 

January 2015

Dear clients and friends:

FORMS 1099

We would like to take this opportunity to review Form 1099 requirements to assist you with your year-end filings as well as to help you start the 2015 new year following IRS guidelines and requirements.  1099 Forms are due in just a few weeks on January 31st (click here for our detailed letter).


Per IRS regulation, 1099s are due for each non-corporate vendor to whom you have paid during the year: 

  • At least $10 in royalties or broker payments in lieu of dividends or tax-exempt income
  • At least $600 in rents, services (including parts and materials), prizes and awards, other income payments, medical and health care payments
  • Gross proceeds of $600 or more paid to an attorney (even if they are incorporated) 

The classification of your workers as "employees" or "independent contractors" remains a "hot topic" with the IRS, even though some guidelines have been released intending to simplify this area.  For each independent contractor (individual, partnership, LLP or LLC) to whom you paid $600 or more during the 2014 calendar year, please provide the following information: 

  1. Formal name/business name
  2. Address
  3. Social Security Number or Taxpayer ID Number
  4. Amount paid in 2014 

The classification of your workers as "employees" or "independent contractors" remains a "hot topic" with the IRS.   If you have any questions, please contact Karen Reed ( or Elaine Kazzi ( and we will be happy to assist you. You can also reach us by phone at (949) 553-1020.




Smith Dickson, An Accountancy Corporation





Smith Dickson is a full-service Southern California CPA firm that specializes in providing high-quality services designed to create long-term value for our clients. Our services include accounting, tax compliance and planning, litigation support, business consulting and estate/trust tax compliance. Please contact us with your questions.

Forward this email

This email was sent to by |  

Smith Dickson, An Accountancy Corporation | 18100 Von Karman Avenue | Suite 420 | Irvine | CA | 92612