1099 Reporting

If your trade or business paid an individual or LLC a cumulative of at least $600 for services throughout the year, then the IRS requires that you issue them a Form 1099 by month-end.

Services may include rent or leases, custom hire and contract labor, repairs, or payments to anyone with whom split crop or livestock sales. You must also report business payments (including those made to corporations) for attorney fees and veterinary services.

Please take some time now to look over and update your records so you can let us know if you need any 1099s issued on your behalf