1099 Fiscal Year

4 replies
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I am having one of those moments...

C Corporation FY ended in 2018 but are the 1099s issued for 2017(the tax year we are filing) or 2018?

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CritterAnswer

Level 15

Issuing a 1099 is not based on the fiscal year of your company but on a calendar year ... so even though your tax year straddles 2 calendar years the 1099-misc forms must be filed on a calendar year basis.

https://www.shrm.org/resourcesandtools/tools-and-samples/hr-qa/pages/whatisa1099-miscform.aspx

Critter

Level 15

Do you mean the C-Corp needs to issue 1099-misc for sub contractors or another kind of 1099?

anthony5Author

Level 2

Yes, correct 1099-MISC needs to be issued.

CritterAnswer

Level 15

https://www.shrm.org/resourcesandtools/tools-and-samples/hr-qa/pages/whatisa1099-miscform.aspx

Anonymous

for your corp's fiscal year ending in 2018 you would file 1099's for calendar year ending 12/31/2017 (what's is sometimes referred to as the included December 31st - 12/31/17 is included in your fiscal year ending in 2018)