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Do condo associations and HOAs need to issue vendors a 1099?

Posted on Tue, Jun 19, 2012 @ 07:43 AM

Does anyone know the requirements for issuing IRS form 1099 from an HOA? Who has to receive a 1099 from the HOA? Property Manager? Attorney? Accountant? Landscaping and Snow Removal Companies? Contractors hired to fix water damage covered by an Insurance claim? Maintenance performed by Property Manager staff?



Everyone, not just HOAs, are required to issue 1099s to any service provider paid over $600 in a year that is not incorporated. The IRS is cracking down on this, too. We were warned in 2012 and IRS will be scrutinizing much more closely everyone's 2013 tax returns.

posted @ Tuesday, June 19, 2012 8:01 AM by Kay Borden

If you pay anyone for services rendered unless they are employees....they get a 1099.

posted @ Tuesday, June 19, 2012 8:05 AM by Ray

google 1099 requirements for 2012 

posted @ Tuesday, June 19, 2012 8:27 AM by john_mastro

Anyone who is not an employee (W-2) must be issued a 1099.

posted @ Tuesday, June 19, 2012 9:54 AM by nas

Like to thank John Mastro for the above link. It was very helpful John! 
I really like the note that 1099's are NOT required for corporations. By this I think they are referring to C & S corps but is required for all other business types. Of course the amount paid must exceed the $600 amount. 

posted @ Tuesday, June 19, 2012 10:16 AM by Ronm McCarthy

Call the IRS direct and ask them. They will answer your questions and provide you with the necessary paphlets forms etc. I have always found them very helpful on these matters. Plus they are the people who make the final decisions on all these matters.

posted @ Tuesday, June 19, 2012 10:53 AM by Don

the threshhold amount is $600.00 or more not over $600.00

posted @ Sunday, November 03, 2013 5:31 PM by billy

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