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As a sole proprietor you are required to issue 1099MISC to subcontractors for money you paid to them. If you were ever audited and took deductions for payments to subcontractors and you didn't file the 1099 for them, the IRS can penalize you for failure to file the forms.
So the short answer is...it never hurts you to file the forms. But it can hurt you if you DON'T file the forms.
As a sole proprietor you are required to issue 1099MISC to subcontractors for money you paid to them. If you were ever audited and took deductions for payments to subcontractors and you didn't file the 1099 for them, the IRS can penalize you for failure to file the forms.
So the short answer is...it never hurts you to file the forms. But it can hurt you if you DON'T file the forms.
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