We just don't want to put a small project (such as generating 5 or less 1099-MISC's) on the back burner for so long and wait until 2017 to do them, so I was just wondering if we can simply file the forms for just the partial year (should only be one final payment). We just wanted to know if this is acceptable with the IRS/if it's been done/ or if it's an absolute no-no. Appreciate the help.
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While above comments are absolutely valid and beneficial, please consider the following:
IRS instructions for 2015 Information Returns (such as Forms 1099) specifically say to file by May 31, 2016.
While you may prepare them sooner – by ordering them online in the link provided by dmertz- I don’t recommend them filing early, as it may create unnecessary correspondence with the IRS. The IRS is not open for any future tax years; they may ask for additional information, they may ask to check if you are underreporting your 2015 income by deducting those early payments, or the forms may get simply “lost”.
If you are a cash–basis Corporation, you are supposed to deduct your expenses (such as 1099-misc contract labor) in the year you pay them. The corporation is dissolving in Jan, 2016, and I’m assuming the contract payment is also for 2016. The IRS may want to make sure you are reporting all your income and expenses in the correct year.
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